|
|
Country's forex reserves down USD 2.06 billion
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 23 Mar, 2015
India's foreign exchange reserves decreased by USD 2.06 billion to USD 335.72 billion for the week ended March 13, Reserve Bank of India (RBI) data showed.
According to analysts, the Indian reserves fell on the back of a rally in the US dollar and that major non-dollar currencies were trading at their weekly lows. The Indian reserves hold nearly 20-25 percent of the non-dollar currencies.
"The fall in foreign reserves can be attributed to a sharp rally in the US dollar. This had an effect on the major non-dollar currencies which were trading to their weekly lows," Anindya Banerjee, senior manager, currency derivatives, Kotak Securities told IANS.
For the previous week ended March 6, the reserves had decreased by USD 286.3 million to USD 337.79 billion. However, for the week ended Feb 27, the total forex reserves had increased by USD 3.88 billion to USD 338.07 billion.
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves declined by USD 1.97 billion at USD 310.34 billion in the week under review.
The foreign currency assets had risen by USD 122.4 million at USD 312.32 billion in the week ended March 6. For the week ended Feb 27, the foreign currency assets had increased by USD 3.90 billion at USD 312.20 billion.
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) in the week ended March 13 decreased by USD 27.1 million and stood at USD 1.58 billion.
The value of special drawing rights (SDRs) was lower by USD 60.8 million in the week under review at USD 3.96 billion.
Gold reserves were static at USD 19.83 billion. The gold reserves had plunged by USD 346.2 million in the week ended March 6.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|