Forex reserves dip $752-mn to $ 298.66-bn

MUMBAI: Country's foreign exchange reserves declined by $752-million to $298.663-billion for the week ending February 11, the Reserve Bank said on Friday.

India's total foreign exchange reserves had stood at $299.415-billion the previous week.

Foreign currency assets, the biggest component of the foreign reserves were down $707-million for the week ended February 11, the Reserve Bank said in its weekly data released this 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.

The value of country's gold reserves remained unchanged at $21.92-billion, the apex bank data said.

Both the special drawing rights (SDRs) and reserve position in the IMF also declined during the reporting week.

The SDRs were down $31-million to $5.124-billion while India's reserve position in the IMF declined $14- million to USD 2.247-billion, the RBI data showed.