India’s forex reserves at $351 bn

Chennai, Oct 31 (IANS) India’s foreign exchange reserves came down by $1,980.4 million to around $351 billion for the week ending October 23, said the Reserve Bank of India (RBI).

In a statement issued on Friday, the RBI said the country’s total forex reserves as on October 23 stood at around $351 billion.

While there was no change in the valuation of gold, the decrease in the foreign currency assets by around $1,932.50 million to $328 billion mainly dragged to forex position down.

Similarly, the valuation of special drawing rights (SDR) came down by $36.20 million to around $4.04 billion at the end of the week ending October 23.

India’s reserve position with International Monetary Fund (IMF) went down by around $11.7 million to around $1.31 billion.

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