Forex reserves dip $752 mn

India’s foreign exchange reserves fell $752 million to $298.6 billion during the week ended February 11 mainly on revaluation of currencies. According to the Reserve Bank of India data, foreign currency assets declined $707 million to $269.37 billion.

Special Drawing Rights fell $31 million to $5.12 billion, while gold remained unchanged. The reserve position in the International Monetary Fund went up by $14 million to $2.25 billion during the week.