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Forex reserves dip to $271 billion
August, 22nd 2009

India's foreign exchange reserves fell for the second consecutive week, to $271.025 billion, a drop of $214 million over $271.239 billion recorded in the previous week.

The foreign currency assets (FCAs), for the week ended August 14, declined to $260.010 billion, down $209 million, from $260.219 billion in the week-ago period, RBI said in its weekly report.

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, RBI said.

Gold reserves, during the week, stood unchanged at $9.671 billion, the apex bank said.

India's reserve position in the International Monetary Fund (IMF) marginally fell to $1.344 billion from $1.348 billion in the previous week, the central bank said.

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