INSUBCONTINENT EXCLUSIVE:
The SDRs' value inched down by $14.2 million to $1.50 billion.Mumbai: India's foreign exchange (Forex) reserves plunged by $2.64 billion
as on May 18, official data showed on Friday.According to the Reserve Bank of India's (RBI) weekly statistical supplement, the overall
forex reserves declined to $415.05 billion from $417.70 billion reported for the week ended May 11.India's forex reserves comprise of
foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund
(IMF).Segment-wise, FCAs -- the largest component of the Forex reserves -- decreased by $2.63 billion to $389.82 billion during the week
It also includes investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial
banks.However, the value of the country's gold reserves increased by $13 million to $21.70 billion.The SDRs' value inched down by $14.2
million to $1.50 billion, while the country's reserve position with the IMF also slipped by $14.2 million to $2.03 billion.(Except for the
headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
