India’s forex reserves slip by $33 mn

MUMBAI: India’s foreign exchange (Forex) reserves slipped by $33.2 million during the week ended August 17, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves inched down to $400.85 billion from $400.88 billion reported for the week ended August 10. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).

Segment-wise, FCAs the largest component of the Forex reserves receded by $60.2 million to $376.21 billion during the week under review. Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies. However, the value of the country’s gold reserves increased by $36.1 million to $20.73 billion. As per the data, the SDRs’ value slipped by $3.4 million to $1.46 billion, while the country’s reserve position with the IMF inched down by $5.7 million to $2.45 billion. (IANS)