Forex reserves inch up $157 m to $292.24 b

After a massive drop the previous week, the forex reserves improved marginally by USD 157.3 million to USD 292.239 billion for the week ended January 24, on the back of a rise in the core currency assets, the Reserve Bank said today.
In the previous week, the reserves had plunged by USD 1.2 billion to USD 292.08 billion while in the week before that the reserves rose USD 179 million. In week ending January 10, the total reserves had dipped by USD 2.599 billion to USD 293.11 billion.
Foreign currency assets, which form a major part of the overall reserves, rose marginally by USD 117.3 million to USD 266.05 billion for the reporting period, the Reserve Bank 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 USD 19.724 billion.
The special drawing rights gained by USD 27.6 million to USD 44.55 billion, while the country's reserve position with IMF declined USD 12.4 million to USD 2.06 billion, the apex bank said.