India's forex reserves down $720 million
Posted by 1stnews9 ~ on
Saturday, 6 April 2013 ~
MUMBAI: India's foreign exchange (forex)
reserves decreased by $720.3 million to $292.64 billion for the week
ended March 29, according to data released by the central bank.
The reserves had increased by $1.05 billion to $293.36 billion for the week ended March 22.
The foreign currency assets (FCA) - the biggest component of the forex reserves
- fell by $689.4 million at $259.72 billion, according to the weekly
statistical supplement released by the Reserve Bank of India (RBI).
The FCA had risen by $1.06 billion at $260.41 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 $26.29 billion.
However, the special drawing rights (SDRs) decreased by $14.3 million
to $4.32 billion during the week under review, while reserves with the
International Monetary Fund (IMF) went down by $16.6 million to $2.30
billion.
The SDRs had decreased by $7.5 million to $4.34
billion during the previous week, while reserves with the IMF had went
down by $4.1 million to $2.31 billion.
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