| Date: |
03-09-2016 |
| Subject: |
India's forex reserves dip by $ 392.6 million to $ 366.776 billion |
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Reversing a four-week uptrend, India's foreign exchange reserves dippped by $ 392.6 million to $ 366.776 billion in the week ended August 26, the Reserve Bank of India (RBI) said here today.
The country's forex reserves had soared by $ 1.347 billion to $ 367.169 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, fallen by $ 390.2 to $ 341.285 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 changed at $ 21.584 billion while its special drawing rights went down by $ 0.9 million to $ 1.496 billion.
India's reserve position in the International Monetary Fund (IMF) fell by $ 1.5 million to $ 2.41 billion, the bulletin added.
Source : netindian.in
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