Tuesday, September 1, 2009

Forex reserves dip to $271 billion

The foreign currency assets (FCAs), for the week ended August 14, declined to $260.010 billion, down $209 million, from $260.219 billion in the week-ago period, RBI said in its weekly report. FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said. Gold reserves, during the week, stood unchanged at $9.671 billion, the apex bank said. India's reserve position in the International Monetary Fund (IMF) marginally fell to $1.344 billion from $1.348 billion in the previous

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