Search

India's Forex Reserves Drop By $12.6 Mn

Monday, December 30, 2013
20
Separator
29
Separator
36
Separator
10
Separator
Print Print Email Email

Mumbai: India's foreign exchange (forex) reserves declined by $12.6 million to $295.50 billion for the week ended Dec 20, Reserve Bank of India (RBI) data showed.

This is the second consecutive week of decline in the country's forex reserves.

The foreign exchange reserves had declined by $192.8 million to $295.51 billion for the week ended Dec 31 after posting strong gains in the previous five weeks largely due to the special swap window opened by the RBI.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, dropped by $94.7 million to $268.46 billion. The foreign currency assets had dropped by $191.1 million in the previous week.

According to the RBI, the foreign currency assets, expressed in the U.S. dollar terms, include the effect of appreciation or depreciation of non-U.S. currencies held in reserve, such as the pound sterling, euro and yen.

The value of special drawing rights (SDRs) fell by $9.1 million to $4.43 billion during the week under review.

However, India's reserve position with the International Monetary Fund (IMF) rose by $91.2 million to $1.99 billion.

The value of India's gold reserves remained unchanged at $20.60 billion.

Read More:

Sensex Gains 127 Points In Late Morning Deals

Over 300 Times Increase In Service Tax Revenue In Two Decades


Source: IANS
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
SPOTLIGHT
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Previous
Next