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Forex reserves rise marginally after a sharp fall

In previous week ended August 2, reserves fell by almost $3 billion to $277.17 billion

Neelasri Barman  |  Mumbai 

India’s foreign exchange reserves rose marginally by $1.43 billion for the week ended August 9 to $278.60 billion, the Reserve Bank of India (RBI) data released on Friday showed.

In the previous week ended August 2 the reserves fell by almost $3 billion to $277.17 billion, the lowest level in over three years.

The rise in the reserves was due to foreign currency assets rising by $1.45 billion during the week to $251.35 billion.

During the week gold reserves remained unchanged at $20.75 billion. For the week under review, the Special Drawing Rights (SDRs) rose by $45.4 million to $4.40 billion. However, the reserve position at International Monetary Fund (IMF) fell by $64.7 million to $2.11 billion.

First Published: Fri, August 16 2013. 18:36 IST