| Date: |
11-01-2014 |
| Subject: |
India's forex reserves down $2.5 billion at $293 billion as of January 3 |
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Mumbai: India's foreign exchange reserves declined by $2.599 billion to $293.11 billion in the week ended January 3 on account of a fall in foreign currency assets, Reserve Bank of India (RBI) data showed on Friday.
The reserves had risen by $204.9 million to $295.71 billion in the previous reporting week.
Foreign currency assets (FCAs), which form a major part of the overall reserves, dipped by $1.681 billion to $266.953 billion in the week under review, the RBI 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 reserves.
During the week under review, the gold reserves fell by $878.6 milion to $19.724 billion.
The special drawing rights fell by $27.8 million to $4.434 billion, while India's reserve position with the IMF declined $12.5 million to $1.997 billion.
Source : profit.ndtv.com
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