Mumbai: India's foreign exchange (forex) reserves decreased by USD 485.9 million to USD 294.76 billion for the week ended April 19, according to data released by the Central Bank.

The reserves had risen by USD 1.40 billion to USD295.24 billion for the week ended April 12.

The foreign currency assets (FCA) - the biggest component of the forex reserves - fell by USD 489.2 million at USD 262.41 billion, according to the weekly statistical supplement released by the Reserve Bank of India (RBI).

The FCA had risen by USD1.38 billion at USD262.90 billion in the previous week.

The central bank said FCA in US dollar terms included the effect of appreciation or depreciation of non-US currencies held in reserve, such as the pound sterling, euro and yen.

Gold reserves value remained the same at USD 25.69 billion.

However, the special drawing rights (SDRs) increased by USD 2 million to USD 4.34 billion during the week under review, while reserves with the International Monetary Fund (IMF) went up by USD 1.3 million to USD 2.31 billion.

The SDRs had grown by USD 11.5 million to USD 4.34 billion during the previous week, while reserves with the IMF went up by USD 6.1 million to USD 2.31 billion.

(Agencies)

Latest News  from Business News Desk