Mumbai, May 25 (IANS) India’s foreign exchange (forex) reserves decreased by $1.72 billion to $291.96 billion for the week ended May 17, according to data released by the Reserve Bank of India.
The reserves had fallen by $616.4 million to $293.69 billion for the week ended May 10.
The foreign currency assets (FCA) – the biggest component of the forex reserves – fell by $1.68 billion at $261.47 billion, the weekly statistical supplement of the central bank shows.
The FCA had fallen by $568.1 billion at $263.16 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 remained stagnant at $23.97 billion, the reserves had dipped heavily by 1.71 billion at $23.97 billion in the week ended May 3, 2013.
However, the special drawing rights (SDRs) decreased by $24 million to $4.30 billion during the week under review while reserves with the International Monetary Fund went down by $12.6 million to $2.21 billion.
The SDRs had fallen by $31.9 million to $4.32 billion during the previous week, while reserves with the IMF went down by $16.4 million to $2.22 billion.
The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual.
Hill Post makes no representations as to the accuracy or completeness of any information on this site page.