India’s forex reserves dip by $573.5 mn
11/08/2014 16:57
India’s forex reserves dropped from a near-record high in the week ended August 1, 2014 amid a sharp decline in foreign currency assets as overseas inventors exited risky assets amid rising geopolitical concerns due to the crisis in the Middle East and heightened tensions between Russia and Ukraine, clouding the outlook for Asia’s third biggest economy. Forex reserves fell by USD 573.5 million to USD 319.99 billion in the week ended August 1, 2014 from the previous week, data from the Reserve Bank of India (RBI) showed on Friday. In the week ended July 25, 2014, foreign exchange reserves rose by USD 2.71 billion to USD 320.56 billion. 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 1.09 billion to USD 292.69 billion in the week ended August 1, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. The value of gold reserves climbed by USD 538.9 million at USD 21.17 billion in the week ended August 1, 2014.
11/08/2014 16:57
India’s forex reserves dropped from a near-record high in the week ended August 1, 2014 amid a sharp decline in foreign currency assets as overseas inventors exited risky assets amid rising geopolitical concerns due to the crisis in the Middle East and heightened tensions between Russia and Ukraine, clouding the outlook for Asia’s third biggest economy. Forex reserves fell by USD 573.5 million to USD 319.99 billion in the week ended August 1, 2014 from the previous week, data from the Reserve Bank of India (RBI) showed on Friday. In the week ended July 25, 2014, foreign exchange reserves rose by USD 2.71 billion to USD 320.56 billion. 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 1.09 billion to USD 292.69 billion in the week ended August 1, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. The value of gold reserves climbed by USD 538.9 million at USD 21.17 billion in the week ended August 1, 2014.
