India`s forex reserves decreased sharply by USD 2,241 million to stand at USD 278,714 million as on Feb. 05, 2009, mainly on account of heavy fall foreign currency assets.
As per the weekly statistical supplement of the Reserve Bank of India (RBI) released on Feb. 05, 2009, foreign currency assets decreased by USD 2,187 million to stand at USD 254,175 million.
During the same period, the reserve position in the International Monetary Fund (IMF) decreased marginally USD 12 million to stand at USD 1,401 million.
Special Drawing Rights (SDRs) decreased by USD 42 million to stand at USD 5,082 million. Gold reserves remained steady at USD 18,056 million.
Foreign currency assets expressed in USD include the effect of appreciation or depreciation on non-US currencies (such as Euro, Sterling and Yen) held in reserves.
Source : myiris.com