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India's forex reserves down $720 mn

Source : IANS
Last Updated: Sat, Apr 06, 2013 13:00 hrs

Mumbai, April 6 (IANS) India's foreign exchange (forex) reserves decreased by $720.3 million to $292.64 billion for the week ended March 29, according to data released by the central bank.

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

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

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

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

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




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