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India's forex reserves fall to $278.67 bn

Source: PTI
February 27, 2010 17:35 IST
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The country's foreign exchange reserves fell by $528 million for the week ended February 19 to $278.672 billion compared to $279.2 billion in the previous week.

Foreign Currency Assets (FCA), during the week, declined to $254.203 billion from $254.7 billion a week ago, 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.

The country's gold reserves, during the week, stood almost unchanged at $18.05 billion while the special drawing rights (SDR) slightly declined to $5.027 billion, the apex bank said.

During the week, India's reserve position in the international monetary fund dropped to $1.386 billion from $1.393 billion a week ago, the central bank said.

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