| Date: |
15-01-2011 |
| Subject: |
India's forex reserves declines $3.32 bn to $294.01 bn |
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MUMBAI: The country's foreign exchange reserves fell by USD 3.32-billion to USD 294.01 billion on the back of a heavy dip in foreign currency assets.
The country's forex reserves had gained over USD 2.3 billion to reach USD 297.334 billion in the previous reporting week.
Foreign currency assets, a major component of the forex kitty, fell sharply to USD 264.56 billion, down USD 3.254 billion for the week ended January 7, the Reserve Bank said in its weekly data.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the Apex bank said.
The country's gold reserves remained unchanged at USD 22.47 billion while both special drawing rights (SDRs) and reserve position in the IMF slipped marginally.
The SDRs were down USD 50-million to USD 5.028 billion while India's reserve position in the IMF declined by USD 19- million to USD 1.953 billion, the RBI data showed.
Source : economictimes.indiatimes.com
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