SME Times News Bureau | 15 Sep, 2014
Country's foreign exchange reserves fell by USD 1.32 billion to USD 317.31 billion for the week ended Sep 5, Reserve Bank of India (RBI) data showed.
The reserves had grown by USD 60.5 million to USD 318.64 billion for the week ended Aug 29.
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, decreased by USD 1.02 billion at USD 290.36 billion in the week under review.
The foreign currency assets had increased by USD 75 million to USD 291.39 billion for the previous week.
The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.
India's reserve position with the International Monetary Fund (IMF) slipped by USD 16 million to USD 1.67 billion.
The value of special drawing rights (SDRs) was down by USD 41.6 million at USD 4.34 billion.
The value of gold reserves fell USD 240.7 million at USD 20.93 billion for the week ended Sep 5. The value of gold reserves had remained static at USD 21.17 billion since Aug 22.
