India’s forex down to $346 bn

Chennai, March 5 (IANS) India’s foreign exchange reserves came down by $3.58 billion to $346.78 billion on February 26, Reserve Bank of India’s (RBI) weekly statistical statement showed.

According to the RBI, the total reserves on February 26 stood at $346.78 billion, down from $350.36 billion on February 19, 2016.

Out of the total forex, the foreign currency assets stood at $325.02 billion on February 26, down from $328.58 billion on February 19.

As per the central bank’s weekly bulletin, on February 26 India’s gold reserves stood at $17.69 billion; special drawing rights (SDR) at $1.47 billion and the reserve position in International Monetary Fund (IMF) was at $2.58 billion.

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