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India's forex reserves down by USD 781 million

Posted on Nov 17, 09:55PM | IANS

India's foreign exchange (forex) reserves went down by USD 781.5 million for the week ended Nov 9, Reserve Bank of India (RBI) data showed Saturday.

The reserves had declined by USD 950.3 million to USD 294.34 billion for the week ended Nov 2. The forex had risen by USD 55.6 million to USD 295.29 billion for the week ended Oct 26.

The foreign currency assets (FCA) - the biggest component of the forex reserves - were down USD 751.8 billion at USD 258.70 billion, according to the weekly statistical supplement released by the RBI.

India's central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

However, the gold reserves value had remained unchanged at USD 28.18 billion since the week ended Nov 2, when the value of gold reserves rose by 56.4 million at USD 28.18 billion.

The special drawing rights (SDRs) declined by USD 19.6 million to USD 4.40 billion during the week under review while reserves with the International Monetary Fund (IMF) were up by USD 10.1 million to USD 2.25 billion.

The SDRs had decreased by USD 4.1 million to USD 4.42 billion during the previous week while reserves with the IMF were down by USD 3.2 million to USD 2.26 billion.