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India's Foreign Exchange Reserves went down to 277.167 billion US dollars

Aug 10, 2013 14:58 IST

The data released by Reserve Bank of India (RBI) on 9 August 2013 revealed that the Foreign exchange reserves of India have fallen by 2.995 billion US dollars to 277.167 billion US dollars in first week of August 2013.

As per the data released, the foreign currency assets, a major component of the forex reserves, have dropped by 2.155 billion US Dollars to 249.895 billion US dollars, while gold reserves have dropped by 808.5 million dollars at 20.747 billion dollars in the first week of August 2013.

The report also stated that the country's reserve position with the International Monetary Fund (IMF) has also gone done by 10.7 million US dollars to 2.171 billion US dollars.

Foreign Exchange Reserves (Weekly Statistical Data released on 9 August 2013)

Item

As on 2 August 2013

Variation over

Week

End-March 2013

Year

Bn.

US$ Mn.

Bn.

US$ Mn.

Bn.

US$ Mn.

Bn.

US$ Mn.

1

2

3

4

5

6

7

8

1 Total Reserves

16859.2

277167.3

336.9

-2995.6

975.0

-14,878.9

650.5

-11,984.8

1.1 Foreign Currency Assets

15194.5

249895.7

345.3

-2155.0

1068.2

-9830.2

784.5

-7058.2

1.2 Gold

1267.9

20747.0

-18.9

-808.5

-129.5

-4945.0

-167.2

-4967.7

1.3 SDRs

264.7

4352.8

7.0

-21.4

29.3

25.2

20.8

3.0

1.4 Reserve Position in the IMF

132.1

2171.8

3.5

-10.7

7.0

-128.9

12.4

38.1


What is Foreign Exchange Reserves?

Foreign Exchange Reserves that is also called forex reserves or FX reserves are the assets that a central bank and other monetary authorities of a country hold. Usually these assets are in form of different reserve currencies, which mainly is an US dollar as well as euro, the pound sterling of United Kingdom, yen of Japan and others. These are used to back its liabilities, like, the local currency issued, and the various bank reserves deposited with the central bank, by the government or financial institutions.

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