Forex reserves down $2.82 bn to $287.85 bn - Business Today

Home /BIZ WRAP /Economy /Story PTI    Mumbai   Last Updated: June 29, 2013  | 00:00 IST After two consecutive weeks of additions, the Indian foreign exchange reserves dipped sharply by $2.82 billion to $287.85 billion due to a fall in currency assets, the Reserve Bank said on Friday. The total reserves had gone up by $982 million in the previous reporting week. Foreign currency assets, a major component of forex reserves, were down by $2.66 billion to $258.43 billion for the week ended June 21, the Reserve Bank data showed. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said. The gold reserves were unchanged at $22.836 billion, the apex bank said. For the week under review, the special drawing rights (SDRs) were down by $28.3 million to $4.372 billion, while the country's reserve position with the IMF declined by a whopping $128.4 million to $2.204 billion, the apex bank data showed. PM seeks Rs 1.15 lakh cr investment in infra Exports from SEZs rose 31% in 2012-13 Rupee rebounds to 59 level, up 80 paise Confident of getting bank license: Birla Coal regulator can bring in competition: PwC Novartis AG sells 1.42% stake in Indian arm via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEwU6a7u0Cx8jgKOGRDFOnQM-ajdA&url=http://businesstoday.intoday.in/story/forex-reserves-june-21-week-2013/1/196298.html

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