| Date: |
03-04-2010 |
| Subject: |
Forex reserves fall $1.2 b |
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Mumbai, April 2 Foreign exchange reserves fell by $1.151 billion to $277.042 billion for the week ended March 26 on account of revaluation losses.
This is the second consecutive week that the reserves have fallen.
For the week ended March 19, foreign exchange reserves fell by $1.515 billion to $278.193 billion
According to a Reserve Bank of India's weekly statistical supplement, in the week ended March 26, foreign currency assets fell by $1.090 billion to $252.755 billion.
Foreign currency assets expressed in the dollar terms include the effect of appreciation or depreciation of non-US currencies.
In the week under review, the dollar had gained against the other major currencies.
Gold reserves remained unchanged at $17.920 billion. SDRs fell by $48 million to $4.991 billion. The Reserve position in the IMF was down $13 million to $1.376 billion.
Source : Business Line
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