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India's forex reserves down

Last Updated: Saturday, November 24, 2012 - 17:48

Mumbai: India's foreign exchange (forex) reserves went down by USD 32.7 million and stood at USD 293.52 billion for the week ended Nov 16, the Reserve Bank of India (RBI) data showed.

The reserves went down by USD 781.5 million to USD 293.55 billion in the previous week. The forex had declined by USD 950.3 million to USD 294.34 billion for the week ended Nov 2.

The foreign currency assets (FCA) - the biggest component of the forex reserves - were down USD 16.4 million at USD 258.69 billion, according to the weekly statistical supplement released by the RBI.

India's 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.

However, the gold reserves value had remained unchanged at USD 28.18 billion since the week ended Nov 2, when the value of gold reserves rose by 56.4 million at USD 28.18 billion.

The special drawing rights (SDRs) declined by USD 10.8 million to USD 4.39 billion during the week under review while reserves with the International Monetary Fund (IMF) were down by USD 5.5 million to USD 2.24 billion.

The SDRs had decreased USD 19.6 million to USD 4.40 billion during the week ended Nov 2 while reserves with the IMF were up by USD 10.1 million to USD 2.25 billion.


First Published: Saturday, November 24, 2012 - 17:48
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