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    Published On : Fri, Dec 15th, 2017

    Forex reserves down by over $1 billion


    New Delhi: The country’s foreign exchange reserves declined by $1.044 billion to $400.897 billion in the week to December 8 due to a steep fall in foreign currency assets, the Reserve Bank said today.

    In the previous week, the reserves had increased by $1.2 billion to $401.942 billion.

    The foreign currency reserves, a major component of the overall reserves, declined by $1.028 billion to $376.428 billion, according to the RBI data.

    Expressed in the US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

    However, the gold reserves remained unchanged at $20.703 billion, unlike in the last reporting week when it had risen by a tad.

    The special drawing rights with the International Monetary Fund fell by $5.3 million to $1.497 billion.

    The country’s reserve position with the International Monetary Fund also declined by $11 million to $2.269 billion, the Reserve Bank of India said.

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