| Date: |
30-10-2010 |
| Subject: |
Forex Reserves Decline $1 bn to Touch $295.4 bn |
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MUMBAI: The country's foreign-exchange reserves fell $1.03 billion to $295.4 billion in the week ended October 22, the Reserve Bank of India has said.
Foreign-currency assets declined $988 million to $267.7 billion while the nation’s gold reserves were unchanged at $20.5 billion, the Mumbai-based central bank said in an emailed statement. India’s special drawing rights with the International Monetary Fund dropped $33 million to $5.18 billion while its reserves with the IMF decreased by $13 million to $2.01 billion.
The change in foreign-currency assets is partly because of changes in the value of the dollar against the euro, yen and other currencies during the period, the central bank said.
Total reserves climbed by $9.9 billion in the past year, the bank said. The reserves comprise overseas currencies, gold and special drawing rights with the IMF.
Source : economictimes.indiatimes.com
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