Forex reserves up $940mn to $166.48bn

The country's forex reserves increased by $ 940 million to $ 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 seven-day period 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, yen held in reserves.

Reserve position in the IMF increased by $ 4 million to $768 million. Gold reserves as well as SDRs, however, remained static at $6.53 billion and $1 million, respectively.