Home > News > Business India News


India's forex reserves decline by $1.02 bn

Posted on Feb 23, 04:41PM | IANS

Mumbai, Feb 23 : India's foreign exchange (forex) reserves decreased by $1.02 billion to $293.51 billion for the week ended Feb 15, according to data released by the central bank.

The reserves had decreased by $611.9 million to $294.54 billion for the week ended Feb 8.

The foreign currency assets (FCA) - the biggest component of the forex reserves - declined by $994.8 million at $259.78 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).

The FCA were lower by $542.8 million at $260.78 billion in the previous week.

The 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.

Gold reserves value remained the same at $26.97 billion.

The special drawing rights (SDRs) decreased by $19.3 million to $4.40 billion during the week under review, while reserves with the International Monetary Fund (IMF) went down by $10 million to $2.35 billion.

The SDRs had decreased by $31.2 million to $4.42 billion during the previous week, while reserves with the IMF had went up by $37.9 million to $2.36 billion.