India's forex reserves down to $293.53 bn

India's foreign exchange reserves slipped marginally by $32.7 million to $293.53 billion, the Reserve Bank said.

The total reserves had dipped by $781.5 million to $293.56 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by $16.4 million to $258.69 billion for the week ended November 17, the RBI said in its weekly statistical supplement today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation/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 $28.19 billion during the week, the apex bank said.

For the week under review, the special drawing rights (SDRs) were down by $10.8 million to $4.398 billion, while the country's reserve position with the IMF was also down $5.5 million to $2.248 billion, according to the RBI data.