| Forex Reserves Down to $271 billion |
According to data released by the Reserve Bank of India in its weekly statistical supplement(WSS) India's foreign exchange reserves dipped by $402 million to $271.239 billion for the week ended August 7,2009 mainly due to rise in foreign currency.Earlier,reserves had risen by $3.93 billion to $271.641 billion for the week ended July 31,2009.The drop in reserves was mainly due to fall in foreign currency,which was down $412 million to $260.219 billion.Gold reserves remain unchanged at $9.671 billion.Special drawing rights (SDR) also remain unchanged at $1 million.The reserve position in the International Monetary Fund(IMF) was up by $10 million to $1.348 billion versus $1.338 billion in the previous week.
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