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This Article is From Jul 10, 2015

Forex Reserves Down $704 Million to $354.517 Billion

Foreign currency assets (FCAs), which is a major component of overall reserves, dipped by $410.1 million to $330.090 billion, the data showed.

Forex Reserves Down $704 Million to $354.517 Billion
Mumbai:

In the previous reporting week, the reserves had declined by $237.5 million to $355.221 billion after touching a life-time high of $355.46 in the fortnight ended June 19.
 

Foreign currency assets (FCAs), which is a major component of overall reserves, dipped by $410.1 million to $330.090 billion, the data showed.
 

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.
 

The country's gold reserves also decreased by $265.9 million to $19.074 billion.
 

The special drawing rights with the International Monetary Fund were down by $21.2 million to $4.042 billion in the week under review, while India's reserve position with the financial institution declined by $6.8 million to $1.310 billion, the apex bank said.

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