SME Times News Bureau | 11 Nov, 2013
Country's foreign exchange (forex) reserves declined by USD 1.65 billion to touch USD 281.29 billion for the week ended Nov 1, official data showed.
The forex reserves had risen by USD 1.82 billion to touch USD 282.95 billion for the week ended Oct 25.
According to the Reserve Bank of India (RBI) Weekly Statistical Supplement, India's foreign currency assets (FCA), the biggest component of the forex reserves, decreased by USD 894.2 million to USD 253.60 billion for the week under review.
RBI said the FCA expressed 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.
The FCA had rised by USD 1.80 billion to USD 254.50 billion for the week ended Oct 25.
The value of India's gold reserves were down by 538.1 million at USD 21.22 billion. The reserves value had remained stagnant at USD 21.76 billion since the week ended Oct 11.
However, India's reserve position with the International Monetary Fund (IMF) declined by USD 177.9 million to USD 2.03 billion and the value of the special drawing rights (SDRs) lost USD 46.9 million to USD 4.42 billion.
For the week ended Oct 25, the country's reserve with IMF had risen by USD 6.9 million to USD 2.21 billion and the value of the SDRs gained by USD 13.7 million to USD 4.46 billion.
