India’s forex reserves dip to $ 318.5 bn: RBI
01/09/2014 00:07
India’s foreign exchange reserves fell in the week ended August 22, 2014 driven by a decline in foreign currency assets. Forex reserves declined by USD 810.7 million to USD 318.57 billion in the week ended August 22, 2014 from the previous week, the central bank, the Reserve Bank of India (RBI) said in a report on Friday. In the week ended August 15, 2014, India’s foreign exchange reserves had risen by USD 43.3 million to USD 319.39 billion, snapping a two-week downward streak. Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, fell by USD 783 million to USD 291.318 billion in the week ended March 28, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 21.173 billion in the week ended August 22, 2014 from the previous week, data showed. The special drawing rights dropped by USD 19.8 million to USD 4.396 billion, while India's reserve position with the IMF also declined by USD 7.9 million to USD 1.691 billion in the week ended August 22, 2014, RBI data showed.
01/09/2014 00:07
India’s foreign exchange reserves fell in the week ended August 22, 2014 driven by a decline in foreign currency assets. Forex reserves declined by USD 810.7 million to USD 318.57 billion in the week ended August 22, 2014 from the previous week, the central bank, the Reserve Bank of India (RBI) said in a report on Friday. In the week ended August 15, 2014, India’s foreign exchange reserves had risen by USD 43.3 million to USD 319.39 billion, snapping a two-week downward streak. Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, fell by USD 783 million to USD 291.318 billion in the week ended March 28, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 21.173 billion in the week ended August 22, 2014 from the previous week, data showed. The special drawing rights dropped by USD 19.8 million to USD 4.396 billion, while India's reserve position with the IMF also declined by USD 7.9 million to USD 1.691 billion in the week ended August 22, 2014, RBI data showed.
