Home ECONOMY India’s forex reserves down $1.61 bn

India’s forex reserves down $1.61 bn

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Mumbai, Sep 20 :

India’s foreign exchange reserves fell by $1.61 billion to $315.69 billion for the week ended Sep 12, Reserve Bank of India (RBI) data showed.

The reserves had fell by $1.32 billion to $317.31 billion for the week ended Sep 5.
Forex
According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, decreased by $1.59 billion at $288.76 billion in the week under review.

The foreign currency assets had decreased by $1.02 billion at $290.36 billion in the previous week.

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) slipped by $4.4 million to $1.66 billion.

The value of special drawing rights (SDRs) was down by $11.4 million at $4.33 billion.

The value of gold reserves was static at $20.93 billion for the week ended Sep 12. The value of gold reserves fallen by $240.7 million at $20.93 billion for the week ended Sep 5.

(IANS)