India forex reservces fall

India's Forex reserves fell by USD 691 million for the week ended June 27 to USD 311.79 billion as against USD 312.481 billion in the last week.

Reserves had jumped by USD 1.794 billion to USD 312.481 billion in the previous week.

Similarly, Foreign Currency Assets (FCAS) posted a decline of USD 694 million during the week and stood at USD 302.05 billion as compared to USD 302.744 billion in the previous week, reserve bank said in its weekly report in Mumbai on Friday.

FCAS, expressed in US dollar terms, include the effect of appreciation or depreciation of non-us currencies such as euro, sterling and yen held in reserves, RBI said.

Gold reserves and special drawing rights, during the week, were static at USD 9.202 billion and USD 11 million respectively, the apex bank said.

India's reserve position in the international monetary fund rose in the second consecutive week to USD 527 million, up USD 3 million from USD 524 million in the past week, RBI said.