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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 showed.

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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