India’s forex reserves dip $12.5 billion to $295.50 billion
28 Dec 2013
Foreign exchange (forex) reserves with the Reserve Bank of India (RBI) declined by $12.6 million to $295.50 billion during the week ended 20 December 2013, according to latest RBI data.
After five weeks of gains when the forex swap window was open, the country's forex reserves have declined for the two consecutives that ended 20 December 2013.
Forex reserves had declined by $192.8 million to $295.51 billion in the previous reporting week.
Foreign currency assets (FCAs), which form a major part of the overall reserves, decreased by $94.7 million to $268.469 billion for the week under review, RBI said in its weekly statistical supplement.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in reserves.
During the week, gold reserves were unchanged at $20.603 billion, RBI said.
Special drawing rights with the RBI declined by $9.1 million to $4.431 billion, while India's reserve position with the IMF increased by $91.2 million to $1.999 billion during the period, RBI data showed.
