BANKING/FINANCE: Forex reserves up $1.977 billion.

from BUSINESS LINE, January 29, 2011 Mumbai, Jan. 28 - The country's foreign exchange reserves have gone up by $1.977 billion to $299.395 billion for the week ended January 21, according to the weekly statistical bulletin released by the Reserve Bank of India.

The increase in reserves is mainly on account of currency revaluation. The reserves have gone up for the second consecutive week.

In the earlier week ended January 14, forex reserves increased by $3.407 billion to $297.418 billion.

In the week ended January 21, foreign currency assets increased by $1.685 billion to $269.551 billion.