India's forex reserves down $167 million
Mumbai: India's foreign exchange (forex) reserves went down by USD 163.7 million to USD 294.87 billion for the week ended Oct 12, the Reserve Bank of India (RBI) data shows.
Forex went up by USD 227.3 million for the week ended Oct 5, and by USD 837.8 million to USD 294.81 billion for the week ended Sep 28.
However, foreign currency assets (FCA) - the biggest component of the forex reserves - fell USD 150.1 billion to USD 260.02 billion in the week under review, according to the weekly statistical supplement released by the RBI.
The FCA were up by USD 218.3 million to USD 260.17 billion for the week ended Oct 5.
India's central bank in a statement said that FCA in the 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.
The value of gold reserves remained unchanged at 28.13 billion in the week ended Oct 12. The reserves had zoomed by USD 1.89 billion in the week ended Sep 28.
The special drawing rights (SDRs) decreased by USD 9 million to USD 4.44 billion during the week under review, while reserves with the International Monetary Fund (IMF) were down by USD 4.6 million to USD 2.26 billion.
The SDRs had decreased by USD 4.45 million to USD 6.00 billion for the week ended Oct 5, while India's reserves with the IMF were lower by USD 2.27 million to USD 3.00 billion in the previous week.