Money & Banking

Forex reserves down $ 286 mn to $ 308 bn

| | Updated on: Apr 23, 2011

The country’s foreign exchange reserves declined by $286 million to $ 307.92 billion following fall in foreign currency assets during the week ending April 15.

Foreign currency assets, the biggest component of the foreign reserves were down $ 311 million to $ 277.37 billion for the week ended April 15, the Reserve Bank said in its weekly data released last evening.

Foreign currency assets 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.

Country’s gold reserves remained unchanged at 22.97 billion, the apex bank data said.

Both the special drawing rights (SDRs) and reserve position in the IMF were up during the reporting week, RBI said.

The SDRs increased $ 15 million to $ 4.605 billion while India’s reserve position in the IMF also increased by a marginal $ 10 million to $ 2.97 billion, the RBI data showed.

Published on April 23, 2011

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