India s forex reserves inch lower by $57 mn

Mumbai Feb 24 (IANS) India s foreign exchange (Forex) reserves marginally fell by 56.8 million as on February 17 2017 official data showed on Friday.

According to the RBI s weekly statistical supplement the overall Forex reserves decreased to $362.72 billion from $362.78 billion for the week ended February 10.

Segment-wise the Foreign Currency Assets (FCAs) -- the largest component of the Forex reserves inched lower by $59.1 million to $339.71 billion during the week under review.

Apart from the US dollar the FCAs consist of nearly 20-30 per cent of major (non US) global currencies securities and bonds. The individual movements of these currencies against the US dollar impacts the reserves value.

The country s gold reserves were stagnant at $19.24 billion.

However the special drawing rights (SDRs) gained marginally by $0.9 million to $1.44 billion.

The country s reserve position with the International Monetary Fund (IMF) rose by $1.4 million to $2.31 billion.

--IANS
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