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India’s foreign exchange reserves slip by $249 mn

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Mumbai, Feb 19 (IANS) India’s foreign exchange reserves declined by $249 million during the week ended February 12.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $583.697 billion from $583.945 billion reported for the week ended February 5.

India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.387 billion to $540.951 billion.

However, the value of the country’s gold reserves increased by $1.260 billion to $36.227 billion.

Besides, the SDR value stood higher by $10 million at $1.513 billion.

Nonetheless, the country’s reserve position with the IMF decreased by $132 million to $5.006 billion.

–IANS

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