MUMBAI: India's foreign exchange reserves slumped by $3.14 billion to $293.54 billion in the first week of 2012, the lowest level in almost 15 months, largely due to revaluation of non-dollar assets and sale of dollars by the central bank to curb the rupee's slide.
The forex reserves fell by $3.14 billion to $293.54 billion for the week ended Jan 6 as compared to $296.68 billion in the previous week, according to the weekly statistical supplement of the Reserve Bank of India (RBI).
Source : economictimes.indiatimes.com