Forex Reserves Down To $226.445 Bn

The country''s foreign exchange reserves have dropped by $2.551 billion to stand at $226.445 billion for the week ended August 17.This is for the second consecutive week the forex reserves have declined. In the previous week, the reserves slipped by $346 million to $228.996 billion.

As per the data collated by the Reserve Bank, foreign currency assets (FCAs) decreased by $2.550 billion to stand at $219.103 billion during week ended August 17.

The central bank said foreign currency assets expressed in US dollar terms included the effect of appreciation or depreciation of other currencies, such as the euro, pound sterling and yen, held in its reserves.

During the week, gold reserves remained unchanged at $6.887 billion while reserves in the IMF decreased by $2 million to $453 million. Special Drawing Rights (SDRs) also increased to $2 million up $1 million.

Source : www.indian-commodity.com