Forex reserves decline by $ 5.464 bn | business | Hindustan Times
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Forex reserves decline by $ 5.464 bn

India's foreign exchange reserves dipped by $ 5.464 bn to $ 300.010 bn for the week ended August 8 from $ 305.474 bn during the previous week.

business Updated: Aug 15, 2008 21:47 IST

India's foreign exchange reserves dipped by US$ 5.464 billion to US$ 300.010 billion for the week ended August 8 from US$ 305.474 billion during the previous week.

The country registered fall in its foreign reserves for the fourth consecutive week.

During the week, the foreign currency assets (FCA) fell by US$ 5.456 billion to US$ 289.760 billion compared to US$ 295.216 billion in the previous week, Reserve Bank of India (RBI) said in its weekly report today.

The FCAs expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, it said.

The gold reserves and the special drawing rights, during the period under review, remained static at US$ 9.735 billion and US$ 11 million respectively, the central bank said.

India's reserve position in the International Monetary Fund (IMF) declined by US$ 8 million to US$ 504 million from US$ 512 million in the previous week, RBI said.