business-india-news

India's forex reserves down USD 685 mn

Mumbai, Sep 14 : India's foreign exchange (forex) reserves decreased by USD 685.1 million to USD 274.80 billion for the week ended Sep 6, according to data released by the Reserve Bank of India (RBI).


The reserves had fallen by USD 2.23 billion to USD 275.49 billion for the week ended Aug 30.

The foreign currency assets (FCA) - the biggest component of the forex reserves - fell USD 656.5 million to USD 246.74 billion, the weekly statistical supplement of the central bank showed.

The FCA had declined by USD 3.08 billion at USD 247.40 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 remained stagnant at USD 21.72 billion. The reserves of the precious metal were up by USD 977.1 million in the week ended Aug 30.

The special drawing rights (SDRs) declined by USD 19.6 million to USD 4.35 billion during the week ended Sep 6, while reserves with the International Monetary Fund (IMF) went down by USD 9 million to USD 1.98 billion.

The SDRs had declined by USD 14.9 million to USD 4.37 billion during the previous week, while reserves with the IMF were down by USD 112.5 million to USD 1.99 billion.

--IANS (Posted on 14-09-2013)

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