Forex reserves up $291mn to $129.72bn

Foreign exchange reserves increased $291 million during the week ended January 28, 2005 to $1,29.720 billion, according to the weekly supplement released by the RBI on Saturday.

Foreign currency assets moved up $286 million to $123.719 billion. Gold reserves and special drawing rights were steady at $4.582 billion and $5 million, respectively.

The reserve tranche position with the International Monetary Fund (IMF) increased $5 million to $1.414 billion.