| Date: |
28-01-2013 |
| Subject: |
India’s forex reserves down by $1.5 m. |
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Mumbai: India’s foreign exchange (forex) reserves decreased by $1.58 million to $294.99 billion for the week ended Jan 4, data released by the Reserve Bank of India (RBI) showed.
The reserves had increased by $39.6 million to $296.57 billion for the week ended December 28, 2012.
The foreign currency assets (FCA) — the biggest component of the forex reserves — went down by $951.7 million at $261.06 billion, according to the weekly statistical supplement released by the RBI.
The FCA went up by $63.9 million at $262.01 billion in the previous week.
The central bank said FCA in US$ terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.
Gold reserves value dipped by $583.3 million and stood at $27.21 billion.
The special drawing rights (SDRs) decreased by $34.7 million to $4.40 billion during the week under review, while reserves with the Internatio-nal Monetary Fund (IMF) went down by $18.2 million to $2.30 billion.
The SDRs had decreased by $15.9 million to $4.43 billion during the previous week, while reserves with the IMF had gone down by $8.4 million to $2.32 billion.
Source : indiatribune.com
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