| Date: |
20-09-2014 |
| Subject: |
India's forex reserves down USD 1.61 bn to USD 315.69 bn |
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India's foreign exchange reserves dropped by USD 1.615 billion to USD 315.697 billion in the week to September 12 on account of a hefty fall in non-US currency assets, the Reserve Bank said today.
In the week to September 5, the reserves had dipped by USD 1.327 billion to USD 317.313 billion.
Foreign currency assets (FCAs), a major constituent of overall reserves, declined by USD 1.599 billion to USD 288.764 billion for the week under review, the RBI data showed.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.
The gold reserves remained unchanged at USD 20.933 billion in the reporting week.
The special drawing rights were down USD 11.4 million to USD 4.333 billion and India's reserve position with the IMF dipped by USD 4.4 million to USD 1.666 billion during the week, the data showed.
Source : financialexpress.com
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