Mumbai, Jan 10:
India’s foreign exchange reserves fell by $471 million to $319.23 billion for the week ended Jan 2, Reserve Bank of India (RBI) data showed.
According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, declined by $863 million at $294.53 billion in the week under review.
The foreign currency assets had lost $271 million at $295.39 billion in the previous week (Dec 26).
The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.
India’s reserve position with the International Monetary Fund (IMF) in the week ended Jan 2 fell by $0.2 million and stood at $1.13 billion.
The value of special drawing rights (SDRs) was lower by $0.7 million in the week under review at $4.18 billion.
Gold reserves for the week under review grew by $392 million at $19.37 billion. The bullion was static at $18.98 billion in the previous week (Dec 26). IANS