1. Forex reserves dip by $11.5 mn to $381.15 bn

Forex reserves dip by $11.5 mn to $381.15 bn

The country's forex reserves slipped from record high level to $381.156 billion in the week to June 9 due to fall in foreign currency assets.

By: | Mumbai | Published: June 16, 2017 5:53 PM
forex, forex reserves, Foreign currency assets, forex reserves this week, current forex reserve Foreign currency assets (FCAs), a major component of overall reserves, dipped by .3 million to 7.282 billion in the reporting week, the central bank said. (Reuters)

The country’s forex reserves slipped from record high level to $381.156 billion in the week to June 9 due to fall in foreign currency assets. In the previous week, the reserves had increased by $2.404 billion to touch a record high of $381.167 billion. Foreign currency assets (FCAs), a major component of overall reserves, dipped by $8.3 million to $357.282 billion in the reporting week, the central bank said. Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at $20.095 billion. The special drawing rights with the International Monetary Fund dipped by $1.3 million to $1.470 billion. The country’s reserve position with the IMF, too, declined by $1.9 million to $2.307 billion.

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