Forex reserves fall $1.21 bn to $292 bn

Foreign currency assets, key component of reserves, fell by $1.21 billion to $265.93 bn

 

The country’s foreign exchange (forex) reserves fell $1.21 billion for the week ended January 17 to $292.08 billion, shows Reserve Bank of India (RBI) data released on Friday.

Foreign currency assets, a key component of reserves, fell $1.21 billion to $265.93 billion. Gold reserves remained unchanged.

For the week under review, the Special Drawing Rights rose $2.6 million to $4.43 billion, while the country’s reserve position with the International Monetary Fund was up $1.2 million to $1.99 billion.