INSUBCONTINENT EXCLUSIVE:
However, the value of the country's gold reserves increased by $26.2 million to $21.68 billion.Mumbai: Country's foreign exchange (Forex)
reserves plunged by $1.23 billion as on May 11, official data showed on Friday
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the overall forex reserves declined to $417.70 billion from
$418.94 billion reported for the week ended May 4.India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special
drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).Segment-wise, FCAs -- the largest component of the
20-30 per cent of major global currencies
It also includes investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial
banks.However, the value of the country's gold reserves increased by $26.2 million to $21.68 billion.The SDRs' value inched down by $0.3
million to $1.51 billion, while the country's reserve position with the IMF slipped by $0.3 million to $2.04 billion.(Except for the
headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
