Iraqi Dinar Discussion Board

[Panhead]

maybe India's latest moves might shed some light?

Revaluation sees forex reserves fall by $1.51 billion



Mumbai, March 26

Foreign exchange reserves fell by $1.515 billion to $278.193 billion for the week ended March 19, according to figures released in the Reserve Bank of India's weekly statistical supplement. The fall in the reserves was mainly on account of revaluation of reserves.

The reserves have fallen after having risen for two consecutive weeks.

For the week ended March 12, foreign exchange reserves had increased by $1.277 billion to $279.708.

In the week under consideration, foreign currency assets fell by $1.476 billion to $253.845 billion as the dollar gained against other major currencies.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies.

Gold reserves remained unchanged at $17.920 billion. SDRs fell by $30 million at $5.039 billion. The Reserve position in the IMF was down $9 million to $1.389 billion