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  4. Foreign exchange reserves slip by $1.4 billion to $351.11 billion: RBI

Foreign exchange reserves slip by $1.4 billion to $351.11 billion: RBI

Mumbai:India's foreign exchange reserves after rising for two consecutive weeks fell by $1.4 billion (nearly Rs ​9,273.6 crore) to $351.106 billion (nearly Rs 23.25 lakh crore) in the week to December 18 on account of

PTI PTI Updated on: December 26, 2015 16:04 IST
foreign exchange reserves slip by 1.4 billion to 351.11
foreign exchange reserves slip by 1.4 billion to 351.11 billion rbi

Mumbai:India's foreign exchange reserves after rising for two consecutive weeks fell by $1.4 billion (nearly Rs ​9,273.6 crore) to $351.106 billion (nearly Rs 23.25 lakh crore) in the week to December 18 on account of fall in Foreign Currency Assets (FCAs), according to the Reserve Bank of India (RBI) data.

In the previous week, the reserves had increased by $407.9 million (nearly Rs 2,701.93 crore) to $352.51 billion (nearly Rs 23.35 lakh crore).

FCAs, a major component of overall reserves, declined by $1.368 billion (nearly Rs ​9,061.63 crore) to $328.27 billion (nearly Rs 21.74 lakh crore) in the reported period, the RBI said in a release on Friday.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The gold reserves remained unchanged at $17.54 billion (nearly Rs ​1.16 lakh crore).

India's Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) fell by $24.3 million (nearly Rs 160.96 crore) to $3.997 billion (Rs 26,476.13 crore) in the week, while the country's reserve position with the Fund decreased by $7.8 million (nearly Rs 51.67 crore) to $1.295 billion (nearly Rs 8,578.08 crore), the apex bank said.

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