India's forex reserves down USD 1.16 billion
India's foreign exchange (forex) reserves decreased by USD 1.16 billion to USD 291.07 billion for the week ended Jan 31, Reserve Bank of India (RBI) data showed.
The foreign exchange reserves had increased by $157.3 million to $292.23 billion for the week ended Jan 24.
According to the RBI's weekly statistical supplement foreign currency assets, the biggest component of the forex reserves, fell by $1.48 billion to $264.56 billion.
The foreign currency assets had risen by $1.20 billion to $265.93 billion in the previous week.
RBI said that the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.
The value of special drawing rights (SDRs) decreased by $25.6 million to $4.43 billion during the week under review. India's reserve position with the International Monetary Fund (IMF) fell by $11.5 million to $1.99 billion.
The value of India's gold reserves grew by $351.2 million at $20.07 billion.
(Posted on 08-02-2014)