Forex reserves down at $271.239 bn

India's foreign exchange reserves fell for the week ended August 7 to $271.239 billion compared to $271.641 billion in the year-ago period.

Reserves had risen by $3.930 billion for the week ended July 31, compared to $267.711 billion in the previous week.

Foreign currency assets, during the week, fell to $260.219 billion, against $260.631 billion in the previous week, RBI said in its weekly report.

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, RBI said.

The country's gold reserves and special drawing rights (SDR), during the week, stood unchanged at $9.671 billion and $1 million, respectively, the central bank said.

 

India's reserve position in the International Monetary Fund (IMF) marginally rose to $1.348 billion compared to $1.338 billion in the previous week, RBI said.