By Siddharthan Meganathan: Subscribe to Siddharthan's RSS feed
September 4, 2010 5:22 AM EDT
The country's foreign exchange reserves grew to $282.842 billion as on Aug. 27, from $282.549 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Friday.
Foreign currency assets, a major component of FX reserves, grew to $256.648 billion in the week ended August 27, as against $256.37 billion in the previous week, the data showed. Foreign currency assets excludes $250 million invested in foreign currency denominated bonds issued by IIFC (UK).
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies held in reserves, such as such as Euro, Sterling, Yen.
The gold reserves remained unchanged at $19.278 billion, while the country's Special Drawing Rights (SDRs) moved up marginally to $4.981 billion, up $10 million. The SDR includes $4,883 million allocated under general allocation and SDR $40 million allocated under special allocation by IMF done on August 28, 2009 and September 9, 2009, respectively. The reserves include $6,699 million reflecting the purchase of 200 metric tonnes of gold from IMF on November 3, 2009.
The reserve position in the International Monetary Fund (IMF) also moved up by $4 million to $1.935 billion, the RBI said.
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India Central government did not have any outstanding loans from the RBI in the week ended August 27, 2010, showed the same data.
State governments borrowed 3.61 billion rupees from the RBI in the week ended August 27, 2010.
The state governments had borrowed 1.97 billion rupees in the previous week, ended on August 20, 2010, and the central government had no outstanding loans with the RBI in the previous week.
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