India's Official Reserves Fall

Friday, the Reserve Bank of India said in its weekly report that the nation's official reserves accounted for US$296.21 billion as on August 15, down from US$300.01 billion recorded as on August 8.

Foreign currency reserves accounted for US$285.97 billion, down from US$289.76 recorded in the previous week. Gold reserves amounted to US$9.7 billion, unchanged from the previous week. Special drawing rights decreased to US$4 million from US$11 million. India's reserve position with the International Monetary Fund fell to US$496 million from US$504 million. Copyright(c) 2008 RealTimeTraders.com, Inc. All Rights Reserved