Indian Forex reserves at USD 252 billion

(20/4/2009 Indian Economy updates) - India's foreign exchange reserves stood at USD 252 billion as of end-March, declining by USD 57.7 billion over the previous year, the Reserve Bank said on Monday.

The RBI said in its Macroeconomic and Monetary Developments in 2008-09 said, the overall approach to the management of India's foreign exchange reserves in recent years reflects the changing composition of the balance of payments and the 'liquidity risks' associated with different types of flows and other requirements.

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"Taking these factors into account, India's foreign exchange reserves continued to be at a level consistent with the rate of growth, the size of the external sector in the economy and the size of risk-adjusted capital flows," RBI said.

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