India’s foreign exchange reserves declined sharply during the - TopicsExpress

India’s foreign exchange reserves declined sharply during the week ended 23 August 2013. They fell by USD 1.09 billion to USD 277.72 billion. This was the second lowest level of forex reserves in the last 38 months. Forex reserves had risen by USD 1.64 billion in the preceding two weeks after touching a 38-month low of USD 277.17 billion on 2 August 2013. Foreign currency assets, the largest component of India’s forex reserves declined by USD 1.08 billion to USD 250.48 billion during the week ended 23 August 2013. India’s reserve position in the IMF declined by USD 2.2 million to USD 2.1 billion. While SDRs fell by USD 4.5 million to USD 4.39 billion, gold reserves remained unchanged at USD 20.75 billion as compared to the preceding week

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