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Forex reserves down USD 250 million to USD 289 billion

Published: 25th August 2012 12:32 AM  |   Last Updated: 25th August 2012 12:37 AM   |  A+A-

By PTI

The country's forex reserves slipped USD 250.5 million to USD 288.92 billion on the back of a fall in the foreign currency assets in the week ended August 17, the Reserve Bank said today.

The total reserves had gained merely USD 17.8 million to stand at USD 289.17 billion in the previous reporting week.

Foreign currency assets (FCAs), a major component of the forex reserves, were down by USD 263 million to USD 256.65 billion for the week under review, the apex bank said.

FCAs, 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 gold reserves were unchanged at USD 25.71 billion, the RBI said.

For the week under review, the special drawing rights (SDRs) were up USD 14.1 million to USD 4.356 billion, while India's reserve position with the IMF slipped by 23.1 million to USD 2.191 billion, the apex bank data showed.

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