India''s forex reserves dip USD 752-mn to USD 298.66-bn

Mumbai, Feb 18 (PTI) Country''s foreign exchangereserves declined by USD 752-million to USD 298.663-billionfor the week ending February 11, the Reserve Bank said today.

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

Foreign currency assets, the biggest component of theforeign reserves were down USD 707-million for the week endedFebruary 11, the Reserve Bank said in its weekly data releasedthis evening.

Foreign currency assets expressed in US dollar termsinclude the effect of appreciation or depreciation of thenon-US currencies, such as the euro, pound and yen, held inthe reserves, the apex bank said.

The value of country''s gold reserves remainedunchanged at USD 21.92-billion, the apex bank data said.

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

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