India's forex reserves fall USD 1.034 bn to USD 295.40 bn

The forex reserves had risen by USD 641 million to end at USD 296.43 billion the previous week. Foreign currency assets, a major component of the forex pie, slipped by USD 988 million to USD 267.69 billion for the week, data released today by the Reserve Bank of India (RBI) showed.

Foreign currency assets 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 apex bank said.

Country's gold reserves were unchanged at USD 20.51 billion while India's Special Drawing Rights (SDRs) also declined to USD 5.178 billion, down USD 33 million, the data showed.
The country's reserve position in the International Monetary Fund narrowed by USD 13 million to USD 2.011 billion, the apex bank data showed.

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