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Forex reserves up $157 million at $292.24 billion as of January 24

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Mumbai:  After a massive drop the previous week, the forex reserves improved marginally by $157.3 million to $292.239 billion for the week ended January 24, on the back of a rise in the core currency assets, data from the Reserve Bank of India showed.

In the previous week, the reserves had plunged by $1.2 billion to $292.08 billion while in the week before that the reserves rose $179 million. In week ending January 10, the total reserves had dipped by $2.599 billion to $293.11 billion.

Foreign currency assets, which form a major part of the overall reserves, rose marginally by $117.3 million to $266.05 billion for the reporting period, the RBI said.

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

During the week under review, the gold reserves were unchanged at $19.724 billion.

Special drawing rights gained by $27.6 million to $44.55 billion, while the country's reserve position with IMF declined $12.4 million to $2.06 billion, the apex bank noted.

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