According to the latest press release from the Reserve Bank of India (RBI), the country’s forex reserves decreased by $1.37 billion to $291.80 billion during the week ended May 11, 2012. The decrease in valuation of Foreign Currency Assets pulled the forex kitty lower during the reporting week.
Valuation of foreign currency assets decreased $1.33 billion in the week to $257.86 billion. The foreign currency assets expressed in US dollar terms include the effect of appreciation /depreciation of non-US currencies (such as euro, sterling, yen) held in reserves.
The value of gold in the reserves remained unchanged at $26.61 billion during the week.
Special Drawing Rights’ (SDR) valuation decreased by $25.6 million to $4.434 billion in the week. Further the country’s reserve position in the IMF further witnessed a drop of $16.7 million to $2.889 billion during the week ended May 11, 2012.
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