Forex reserves down at $264.48 billion

India's foreign exchange reserves declined by a marginal $107 million for the week ended July 3 to $264.477 billion as compared to $264.584 billion in the previous week.

Reserves had risen by $932 billion for the week ended June 26.

Foreign currency assets, during the period, dropped to $253.432 billion, down by $300 million, as compared to $253.732 billion in the week ago, RBI said in its weekly report today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, the central bank said.

 

India's gold reserves, during the week, rose to $9.800 billion from $9.604 billion in the week ago while special drawing rights (SDRs) remained same at $1 million, RBI said.

India's reserve position in the International Monetary Fund (IMF) went down to $1.244 billion, during the week, as compared to $1.247 billion in the week ago, the apex bank said.