India s Forex reserves down $1.04 bn

Mumbai Dec 15 (IANS) India s foreign exchange (Forex) reserves decreased by $1.04 billion as on December 8 2017 official data showed on Friday.

The Reserve Bank of India s (RBI) weekly statistical supplement showed that the overall Forex reserves dipped to $400.89 billion from $401.94 billion reported for the week ended December 1.

India s Forex reserves comprise of 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 -- declined by $1.02 billion to $376.42 billion during the week under review.

Besides the US dollar FCAs consist of nearly 20-30 per cent of major global currencies. It also include investments in US Treasury bonds bonds of other selected governments and deposits with foreign central and commercial banks.

The country s gold reserves value remained stagnant at $20.70 billion whereas SDRs inched down by $5.3 million to $1.49 billion.

Similarly the country s reserve position with the IMF slipped by $11 million to $2.26 billion.

--IANS
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