Forex reserves down USD 2.43 bn in September

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SME Times News Bureau | 04 Oct, 2014
India's foreign exchange reserves fell by $2.43 billion (provisional) to $315.59 billion in September.

According to Reserve Bank of India (RBI) data for wek ended Sep 5-27, the reserves had decreased by $2.43 billion.

It had fallen by $101.3 billion for week ended Sep 19. The reserves plummet by 1.01 bilion for week ended Sep 12 and by 1.32 billion for week ended Sep 5.

According to the earlier data of RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, decreased by $1.49 billion at $288.78 billion in the month under review.

The foreign currency assets had increased by $75 million fro week ended Sep 19, but drastically fell by 1.59 billion in week ended Sep 12.

The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

India's reserve position with the International Monetary Fund (IMF) slipped by $132.8 million to $1.55 billion.

The value of special drawing rights (SDRs) was down by $61.4 million at $4.32 billion.

The value of gold reserves was static at $20.93 billion for the month. The value of gold reserves fallen by $240.7 million at $20.93 billion for the week ended Sep 5.