| Date: |
08-02-2014 |
| Subject: |
Forex reserves drop $1.17 billion to $291 billion |
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MUMBAI: India's foreign exchange reserves fell by $1.168 billion to $291.07 billion in the week ended January 31 on the back of decline in the core component of the reserves, Reserve Bank said on Friday.
The reserves had risen by $157.3 million to $292.239 billion in the previous reporting week.
Foreign currency assets (FCAs), a major part of the overall reserves, dip by $1.482 billion to $264.569 billion in the week under review, the apex bank said.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in its reserves.
During the week under review, the gold reserves rose by $351.2 million to $20.075 billion.
The Special Drawing Rights fell by $25.6 million to $4.430 billion, while India's reserve position with the IMF declined by $11.5 million to $1.995 billion, the RBI said.
Source : timesofindia.indiatimes.com
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