Saturday, May 28, 2016

India's Forex Reserves Down $121 Million To $361 Billion

Mumbai: The country's forex reserves dipped by $121.3 million to $360.905 billion for the week ended May 20 on a fall in the core currency assets, the Reserve Bank said on Friday.

Total reserves had dipped by $968 million to $361.02 billion in the previous reporting week ended May 13.

Foreign currency assets, a major component of the forex reserves, dipped by $107.1 million to $336.94 billion for the week ended May 20, the Reserve Bank said in data released today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.

The gold reserves were unchanged at $20.043 billion, the apex bank said.

For the week under review, Special Drawing Rights (SDRs) decreased by $5.4 million to $1.498 billion, while the country's reserve position in the IMF also decreased by $8.8 million to $2.425 billion, the ape x bank data showed.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


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