India s Forex reserves deplete by $956 mn

Mumbai April 14 (IANS) India s foreign exchange (Forex) reserves depleted by $956.4 million as on April 7 2017 official data showed on Friday.

According to the Reserve Bank of India s weekly statistical supplement the overall Forex reserves decreased to $368.99 billion from $369.95 billion reported for the week ended March 31.

India s Forex reserves comprise of foreign currency assets (FCAs) gold special drawing rights (SDRs) and the Reserve Bank of India s position with the International Monetary Fund (IMF).

Segment-wise FCAs -- the largest component of the Forex reserves -- receded by $951 million to $345.36 billion during the week under review.

Apart from the US dollar FCAs consist of nearly 20-30 per cent of major (non-US) global currencies. The FCAs include investments in US Treasury bonds bonds of other selected governments deposits with foreign central and commercial banks.

The country s gold reserves were stagnant at $19.86 billion.

However SDRs value fell by $3.1 million to $1.44 billion. The country s reserve position with the IMF inched lower by $2.3 million to $2.31 billion.

--IANS
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