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Last updated: 17 Jun, 2017  

forex.thumb.jpg India's forex reserves slip by over USD 11 mn

forex.jpg
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SME Times News Bureau | 17 Jun, 2017
Country's foreign exchange (Forex) reserves marginally decreased by over USD 11 million as on June 9, 2017.

The Reserve Bank of India's (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves declined to USD 381.156 billion from USD 381.167 billion reported for the week ended June 2.

India's Forex reserves comprise of foreign currency assets (FCAs), gold rserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).

Segment-wise, FCAs -- the largest component of the Forex reserves -- inched down by USD 8.3 million to USD 357.28 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 percent of major (non-US) global currencies. The FCAs also include investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks.

The country's gold reserves were stagnant at USD 20.09 billion.

However, the SDRs' value dipped by USD 1.3 million to USD 1.47 billion. The country's reserve position with the IMF slipped by USD 1.9 million to USD 2.30 billion.
 
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