| Date: |
30-07-2016 |
| Subject: |
India's forex reserves dip by $ 664 million to $ 362.687 billion |
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India's foreign exchange reserves dipped by $ 664 million to $ 362.687 billion in the week ended July 22, the Reserve Bank of India (RBI) said here today.
The country's forex reserves had risen by $ 1.408 billion to $ 363.351 billion in the previous week.
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had gone down by $ 640.7 million to $ 338.257 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves remained unchanged at $ 20.576 billion while its special drawing rights (SDR) went down by $ 9.1 million to $ 1.476 billion.
India's reserve position in the International Monetary Fund (IMF) decreased by $ 14.2 million to $ 2.377 billion, the bulletin added.
Source : netindian.in
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