Forex News - Forex reserves rise to $313 bn - Economic Times(Forex Trading)

After two consecutive weeks of a dip in the reserves pile-up, foreign exchange reserves rose only $200 million to touch $312. Foreign exchange reserves expressed in dollar terms include the effect of appreciation and/or depreciation of non-US currencies such as euro, pound sterling and yen. In addition, RBI also holds a small portion of its reserves in non-SDR currencies such as the Chinese yuan, swiss franc and even the Canadian and Australian dollar. In the other developments, unspent revenue parked with the central bank touched Rs 3,340 crore as on May 9, up Rs 590 crore over the previous weekâs levels. Though the states have not resorted to ways and means advances (WMA) â" a temporary overdraft to meet its revenue mismatches, the states have increased their WMA exposure by Rs 545 crore during the week to Rs 617 crore as on May 9. read more

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