Forex reserves down by 92.8 million to $296.54 bn

Forex reserves down by 92.8 million to $296.54 bn Mumbai: The foreign exchange reserves declined by USD 92.8 million to USD 296.538 billion during the week ended December 21 in the wake of fall in core currency assets, the Reserve Bank said on Friday.

The total reserves stood at USD 296.63 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by USD 169.9 million to USD 261.949 billion for the week ending December 21, Reserve Bank's weekly statistical supplement said on Friday.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.

The gold reserves remained unchanged at USD 27.803 billion during the week, the apex bank said.

For the week under review, the special drawing rights (SDRs) were up by USD 15.8 million to USD 4.45 billion, while the country's reserve position with the IMF was also up USD 61.3 million to USD 2.33 billion, the apex bank data showed.

PTI