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Our Bureau

Mumbai , Dec. 16

THE country's foreign exchange reserves rose by $845 million for the week ended December 9, on the back of an increase in foreign currency assets.

According to the Reserve Bank of India's Weekly Statistical Supplement, foreign exchange reserves increased by $845 million to touch $143.943 billion, up from last week's $143.098 billion.

In the previous week, the reserves had increased by $921 million. This puts the aggregate rise in forex reserves during the last fortnight at $1.76 billion.

The increase in foreign currency assets during the week by $839 million to $137.774 billion was the main reason for the rise in reserves.

Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen.

The treasury head at a private bank said that the accretion in the reserves could have been due to a currency revaluation effect since there was a 100 basis point movement in the value of the euro.

For the week under consideration, the euro traded in the range of $1.700 to $ 1.1820.

The net foreign institutional investor inflows into the domestic equity market for the week under review were $ 73.6 million, according to figures from SEBI.

For the week under review, gold and SDRs (Special Drawing Rights) remained unchanged at $4.925 billion and $4 million, respectively.

However, the country's reserve position in IMF increased by $6 million to $1.240 billion.

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