India's forex falls by $1.41 bn

Mumbai, Oct 3 : India's foreign exchange reserves fell by $1.41 billion to $314.18 billion for the week ended Sep 26, Reserve Bank of India (RBI) data showed. The reserves had decreased by $101.3 million to $315.59 billion for the week ended Sep 19. According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, plunged by $1.39 billion at $287.39 billion in the week under review. The foreign currency assets had decreased by $18.5 million at $288.78 billion in the previous week. The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve. India's reserve position with the International Monetary Fund (IMF) slipped by $6.2 million to $1.54 billion. The value of special drawing rights (SDRs) was down by $17.4 million at $4.30 billion. The value of gold reserves was static at $20.93 billion for the week ended Sep 26. The value of gold reserves fallen by $240.7 million at $20.93 billion for the week ended Sep 5.