| Date: |
27-11-2010 |
| Subject: |
India's Forex Reserves Drop by $330 Million to $298 Billion |
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India's foreign exchange reserves dropped by $330 million to $297.99 billion for the week ended November 19 on the back of a fall in foreign currency.
The country's total forex kitty had stood at $298.31 billion the week before.
Foreign currency assets (FCAs), a major component of the forex kitty, went down by $319 million to $269.18 billion during the week under review, data released by the Reserve Bank today showed.
FCAs, 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.
Gold reserves remained static for the third consecutive week at $21.67 billion, it said.
India's Special Drawing Rights (SDRs) were down by a marginal $8 million to $5.144 billion for the week, while the country's reserve position in the International Monetary Fund slipped by $3 million to $1.998 billion, the data showed.
Source : dnaindia.com
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