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Rediff News  All News  » Business » Forex reserves fall $1.12 billion to $276.26 billion

Forex reserves fall $1.12 billion to $276.26 billion

October 04, 2013 18:22 IST

ForexIndia's forex reserves fell by $1.12 billion to $276.26 billion in the week to September 27 as foreign currency assets fell sharply by nearly $1.3 billion, the Reserve Bank said on Friday.

The reserves had jumped $2.03 billion to $277.38 billion in the previous week.

Foreign currency assets declined by $1.29 billion to $247.924 billion for the week under review, the Reserve Bank of India data


Foreign currency assets expressed in 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 remained unchanged at $21.724 billion for the fourth week in a row, according to the RBI data.

The special drawing rights rose by $1.1 million to $4.43 billion, while the country's reserve position in the International Monetary Fund rose by $177.7 million to $2.19 billion, the RBI data showed.

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