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This is an archive article published on November 27, 2009

Forex reserves fall to $285.34 billion

India's foreign exchange reserves fell by $1.032 billion for the week ended Nov. 20.

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India’s foreign exchange reserves fell by USD 1.032 billion for the week ended November 20 to USD 285.344 billion.

They stood at USD 286.376 billion in the previous week.

The foreign currency assets (FCAs) during the week declined to USD 261.878 billion as compared to USD 262.905 billion a week-ago,the RBI said in its weekly report on Friday.

FCAs,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 RBI said.

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Gold reserves,during the period under review,stood unchanged at USD 17.5 billion,while the special drawing rights (SDRs) fell marginally to USD 5.266 billion,it said.

India’s reserve position in the International Monetary Fund stood at USD 700 million during the week,the central bank said.

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