India's forex reserves down $2 billion
Mumbai: India's foreign exchange (forex) reserves decreased by $2.06 billion to $294.30 billion for the week ended May 3, according to data released by the central bank. The reserves had risen by $1.60 billion to $296.37 billion for the week ended April 26.
The foreign currency assets (FCA) - the biggest component of the forex reserves - fell by $299.7 million at $263.72 billion, according to the weekly statistical supplement released by the Reserve Bank of India. The FCA had risen by $1.61 billion at $264.02 billion in the previous week.
The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen. Gold reserves dipped heavily by 1.71 billion at $23.97 billion. The value of gold reserves remained the same during week ended April 26, at $25.69 billion.
However, the special drawing rights (SDRs) increased by $19.3 million to $4.36 billion during the week under review while reserves with the International Monetary Fund went down by $65.5 million to $2.24 billion. The SDRs had fallen by $5.00 million to $4.34 billion during the previous week, while reserves with the IMF went down by $2.7 million to $2.30 billion.
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 59766
Date 23-02-14 1:43
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Date 15-09-14 1:06
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Date 13-09-14 2:39
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Date 12-09-14 5:13
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Date 13 hrs ago 15:01
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