India’s forex reserves down $1.02 bn at $293.52 bn
23 Feb 2013
India's foreign exchange reserves declined by $1.02 billion to $293.519 billion during the week ended 15 February, data released by the Reserve Bank of India (RBI) on Friday showed.
RBI attributes the decrease in forex reserves to a depletion of its core currency assets.
The total reserves stood at $294.54 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were down $994.8 million at $259.786 billion for the week ended 15 February, RBI's weekly statistical supplement showed.
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, RBI said.
Gold reserves remained unchanged at $26.975 billion during the week.
Special drawing rights (SDRs) were down $19.3 million at $4.406 billion, while the country's reserve position with the International Monetary Fund (IMF) fell $10 million to $2.351 billion, data showed.
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