Forex kitty marginally up at $273 b

The forex reserves of the country have gone down by nearly US$6 billion in the previous two weeks, due to the depreciation of major global currencies and possible dollar sale by the RBI in the market to support rupee.

Foreign currency assets, during the week, went up to US$248.637 billion as against US$248.597 billion in the previous week, the RBI said in its weekly report. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies, such as euro, sterling and yen, held in the reserves, the RBI said.

During the week, gold reserves remained static at US$18.537 billion, while the country’s special drawing rights slightly improved to US$4.877 billion, the RBI said. India’s reserves position in the International Monetary Fund also went up to US$1.313 billion from US$1.308 billion a week ago, the RBI said.

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