Forex reserves fall by $1 billion to $293 billion.

Mumbai: The country's foreign exchange reserves declined by $1.024 billion to $293.519 billion during the week ended February 15 due to a decrease in the core currency assets, the Reserve Bank of India (RBI) said today. The total reserves stood at $294.54 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by $994.8 million to $259.786 billion for the week ended February 15, RBI's weekly statistical supplement said today.

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 gold reserves remained unchanged at $26.975 billion during the week, the apex bank said.

For the week under review, the special drawing rights (SDRs) were down by $19.3 million to $4.406 billion, while the country's reserve position with International Monetary Fund (IMF) was also down by $10 million to $2.351 billion, the apex bank data showed.


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