India's forex reserves down $720 mn

The reserves had increased by USD 1.05 billion to USD 293.36 billion for the week ended March 22.

Last Updated: Apr 06, 2013, 20:42 PM IST

Mumbai: India's foreign exchange (forex) reserves decreased by USD 720.3 million to USD 292.64 billion for the week ended March 29, according to data released by the central bank.

The reserves had increased by USD 1.05 billion to USD 293.36 billion for the week ended March 22.

The foreign currency assets (FCA) - the biggest component of the forex reserves - fell by USD 689.4 million at USD 259.72 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).

The FCA had risen by USD 1.06 billion at USD 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 USD 26.29 billion.

However, the special drawing rights (SDRs) decreased by USD 14.3 million to USD 4.32 billion during the week under review, while reserves with the International Monetary Fund (IMF) went down by USD 16.6 million to USD 2.30 billion.

The SDRs had decreased by USD 7.5 million to USD 4.34 billion during the previous week, while reserves with the IMF had went down by USD 4.1 million to USD 2.31 billion.

IANS