India Forex Reserves at 312 Billion

India's foreign exchange reserves in US dollar terms declined for a continuous second week to reach 312.5 billion dollars according to a release by Reserve bank of India. According to Reserve Bank of India, the foreign currency assets (FCA) declined to 302.2 billion from 302.5 billion last week.

The foreign currency assets per RBI are in US dollar terms and include the effect of appreciation and depreciation of international currencies including Japanese Yen, Pound Sterling and Euro.

In addition to the decline in the foreign exchange reserves, India also saw its reserve position at the IMF decline by a meagre 7 million dollars while its gold reserves declined by 612 Million USD, special drawing rights of India remained static at 18 Million USD.