Forex reserves down USD 810.7 mn to USD 318.57 bn

Aug 29 2014, 19:06 IST
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SummaryThe country's foreign exchange reserves declined by USD 810.7 million to USD 318.579 billion...

The country's foreign exchange reserves declined by USD 810.7 million to USD 318.579 billion for the week ended August 22, on account of drop in foreign currency assets.

Last week, the reserves had risen by USD 43.3 million to USD 319.39 billion, after falling for two consecutive weeks.

Foreign currency assets (FCAs), a major constituent of overall reserves, dipped by USD 783 million to USD 291.318 billion for the week ended August 22, the Reserve Bank of India said in its weekly statement here today.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.

Gold reserves remained unchanged at USD 21.173 billion in the reporting week.

The special drawing rights were down USD 19.8 million to USD 4.396 billion, and India's reserve position with the IMF also dropped USD 7.9 million to USD 1.691 billion during the week, the RBI data showed.

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