Financial Daily from THE HINDU group of publications
Saturday, Dec 03, 2005
Financial Daily from THE HINDU group of publications Saturday, Dec 03, 2005 |
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Money & Banking
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Forex Forex reserves decline $3 m Our Bureau
Mumbai , Dec. 2 THE country's foreign exchange reserves saw a modest depletion, due to a fall in foreign currency assets and the country's reserve tranche position in the IMF, for the week ended November 25. According to Reserve Bank of India's Weekly Statistical Supplement, total reserves fell by $3 million to $142.177 billion in the week ended November 25. Forex reserves have fallen by a cumulative $1.597 billion in four consecutive weeks. Foreign currency assets fell by $1 million to $135.99 billion during the week under review. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as euro, sterling and yen. Gold and SDRs (Special Drawing Rights) were unchanged at $4.864 billion and $4 million respectively. The country's reserve tranche position in the IMF, however, declined by $3 million to touch $1.310 billion.
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