Forex reserves rise a tad to $118.62 bn

By SiliconIndia   |   Saturday, 22 May 2004, 07:00 Hrs
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MUMBAI: India's foreign exchange reserves rose to $118.62 billion in the week ended May 14 from $118.57 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Saturday.
The RBI said the foreign currency assets expressed in US dollar terms included the effect of appreciation/depreciation of other currencies held in its reserves such as the euro, pound sterling and yen.

The RBI said the it has also included in the foreign exchange reserves, India's Reserve Tranche Position (RTP) in the International Monetary Fund.

Foreign currency assets rose to $113,165 million in the week ended May 14 as against $113,095 million in the previous week, said RBI.

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