Forex reserves

Foreign exchange reserves were up $1.634 billion to $295.792 billion for the week ending October 8, on account of revaluation of reserves.

This is the fourth consecutive week in which the reserves have risen.

For the week ended October 1, foreign exchange reserves were up by $2.563 billion to $294.158 billion.

According to figures released in the Reserve Bank of India's weekly statistical supplement, in the week ended October 8, foreign currency assets increased by $1.593 billion to $268.1 billion.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies.

In the week under consideration, the euro had gained against the dollar leading to reserves denominated in euro being re-valued at higher levels, said a dealer with a public sector bank.

Gold reserves were unchanged at $20.516 billion. SDRs rose by $29 million to $5.168 billion. The Reserve Position in the IMF was up $12 million to $2.008 billion.