07-13-2008, 06:49 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Forex reserves fall further by over $3 bn </b>
Pioneer.com
PTI | Mumbai
Posted online: July 12, 2008
A $4 billion decline in the foreign currency assets (FCA) caused a further fall in India's foreign exchange reserves for the second consecutive week.
<b>Reserves fell by a whopping $3.393 billion for the week ended July 4 to $ 308.397 from $311.790 in the previous week, the Reserve Bank weekly data said.</b>
<b>The reserves had dropped by a marginal $691 million in last week.
FCAs declined from $302.744 billion in the previous week to $298.661 billion, down $4.083 billion, RBI data said.</b>
FCAs expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, RBI said.
Meanwhile, the gold reserves improved marginally this week to $9.208 billion as compared to $9.202 billion in the previous week while the Special Drawing Rights remained static at $11 million, the apex bank said.
India's reserve position in the International Monetary Fund fell by $10 million during the week and stood at $517 million as against $ 527 million in the previous week, the central bank said.
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Pioneer.com
PTI | Mumbai
Posted online: July 12, 2008
A $4 billion decline in the foreign currency assets (FCA) caused a further fall in India's foreign exchange reserves for the second consecutive week.
<b>Reserves fell by a whopping $3.393 billion for the week ended July 4 to $ 308.397 from $311.790 in the previous week, the Reserve Bank weekly data said.</b>
<b>The reserves had dropped by a marginal $691 million in last week.
FCAs declined from $302.744 billion in the previous week to $298.661 billion, down $4.083 billion, RBI data said.</b>
FCAs expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, RBI said.
Meanwhile, the gold reserves improved marginally this week to $9.208 billion as compared to $9.202 billion in the previous week while the Special Drawing Rights remained static at $11 million, the apex bank said.
India's reserve position in the International Monetary Fund fell by $10 million during the week and stood at $517 million as against $ 527 million in the previous week, the central bank said.
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