Forex reserves fall to $292.08 billion as on January 17: RBI

KOLKATA: India’s foreign-exchange reserves fell $1.205 billion in the week ended on January 17 after RBI sold dollars to stabilise the rupee amid demand for the US currency from importers including oil companies.

The reserves stood at $292.082 billion, RBI said on Friday in its weekly statistical report. Foreign-currency assets held by the RBI fell $1.209 billion in the week to $265.935 billion.

Foreign-currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves, RBI said. There was no change in gold reserves at $19.725 billion.