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Forex reserves up $940 m

Our Bureau

Mumbai , Sept. 29

Forex reserves increased by $940 million to touch $166.482 billion for the week ended September 22, according to the Reserve Bank of India's Weekly Statistical Supplement. In the earlier week, reserves stood at $165.542 billion.

The week saw good dollar inflows into the domestic bourses, explaining the rise in reserves, said the head of treasury at a private sector bank.

According to RBI data, foreign currency assets increased by $936 million to touch $159.175 billion during the week. Foreign currency assets expressed in US dollars include the effect of appreciation/depreciation of non-US currencies (such as euro, sterling, yen) held in reserves.

FII inflows into equities came to $311.3 million. Gold reserves and SDRs were unchanged at $6.538 billion and $1 million respectively.

The reserves with the IMF moved up by $4 million to $768 million.

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