Indias forex reserves decline USD 286-mn

Mumbai: The country`s foreign exchange reserves declined by USD 286-million to USD 307.92-billion following fall in foreign currency assets during the week ending April 15.

Foreign currency assets, the biggest component of the foreign reserves were down USD 311-million to USD 277.37-billion for the week ended April 15, the Reserve Bank said in its weekly data released last evening.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.

Country`s gold reserves remained unchanged at 22.97-billion, the apex bank data said.

Both the special drawing rights (SDRs) and reserve position in the IMF were up during the reporting week, RBI said.

The SDRs increased USD 15-million to USD 4.605-billion while India`s reserve position in the IMF also increased by a marginal USD 10-million to USD 2.97-billion, the RBI data showed.