Forex reserves up $940 mn to $166.48 bn

India's forex reserves increased by $940 million to stand at $166.482 billion during the week ended September 22 from $165.542 billion during the week ended September 15.

The reserves had risen by $404 million during the preceding week ended September 15 compared to a week ago period. Foreign currency assets shot up by $936 million to $159.175 billion during the week ended September 22, according to figures released by the Reserve Bank of India (RBI) here today.

Foreign currency assets in dollars include the effect of revaluation of non-US currencies such as euro, sterling, and yen held in reserves. Reserve position in the International Monetary Fund increased by $4 million to $768 million.