Forex reserves fall by $1 bn to $293.519 bn

Forex reserves fall by $1 bn to $293.519 bn Mumbai: The country's foreign exchange reserves declined by USD 1.024 billion to USD 293.519 billion during the week ended February 15 due to a decrease in the core currency assets, the Reserve Bank said Friday.

The total reserves stood at USD 294.54 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by USD 994.8 million to USD 259.786 billion for the week ended February 15, Reserve Bank's weekly statistical supplement said 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 26.975 billion during the week, the apex bank said.

For the week under review, the special drawing rights (SDRs) were down by USD 19.3 million to USD 4.406 billion, while the country's reserve position with the IMF was also down by USD 10 million to USD 2.351 billion, the apex bank data showed.

PTI