Forex reserves fall down at USD 271.970-billion

STAFF WRITER 0:11 HRS IST

Mumbai, Jun 4 (PTI) India's foreign exchange reserves fell by a significant USD 1.394 billion for the week ending May 28 to USD 271.970 billion as compared to USD 273.364-billion in the previous week.

Reserves had inched up by a marginal USD 64 million to USD 273.364-billion for the week ending May 21, as compared to USD 273.300-billion in the period a week ago.

Foreign currency assets, during the week, declined to USD 247.263 billion as compared to USD 248.637 billion in the previous week, the RBI said in its weekly report.

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

During the week, gold reserves remained static at USD 18.537 billion while the country's special drawing rights slightly declined to USD 4.861 billion, the RBI said.