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  India foreign reserves falls to $300.010 bn
  18 August 2008 11:27:52
   
  Foreign exchange reserves of India dipped to $ 300.010 billion for the week ended August 8 from $305.474 billion during the previous week, declined by by $5.464 billion

During the week, the foreign currency assets (FCA) fell by $5.456 billion to $289.760 billion compared to $295.216 billion in the previous week, Reserve Bank of India (RBI) said in its weekly report.

This is the fourth consecutive week that India registered fall in its foreign reserves.

The FCAs expressed in US dollar terms include the effect of appreciation/depreciation of non-US currencies such as Euro, Sterling and Yen held in reserves, it said.

The gold reserves and the special drawing rights, during the period under review, remained static at $9.735 billion and $11 million respectively, the central bank said.

India's reserve position in the International Monetary Fund (IMF) declined by $8 million to $504 million from $512 million in the previous week, RBI said.
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