| Date: |
05-03-2016 |
| Subject: |
Forex reserves down by $3.58 bn to $346.79 bn |
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MUMBAI: Country's foreign exchange reserves declined by a whopping $3.58 billion to $346.79 billion in the week ended February 26, on account of fall in foreign currency assets (FCAs), according to Reserve Bank.
In the previous week, the reserves had fallen by $1.47 billion to $350.37 billion.
FCAs, a major component of overall reserves, decreased by $3.56 billion to $325.03 billion in the reporting period, RBI said in a release here on Friday.
FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
Gold reserves remained unchanged at $17.70 billion in the week.
India's special drawing rights with the International Monetary Fund (IMF) dipped by $7.4 million to $1.48 billion in the week, while the country's reserve position with the Fund declined by $13 million to $2.59 billion, RBI said.
Source : timesofindia.indiatimes.com
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