India's foreign exchange reserves declined by USD 286 million to USD 307.92 billion following fall in foreign currency assets during the week ending 15 April.

The Reserve Bank said that Foreign currency assets the biggest component of the foreign reserves were down USD 311 million to USD 277.37 billion for the week ended 15 April.

The apex bank said foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non US currencies such as the euro, pound and yen held in the reserves. The country's gold reserves remained unchanged at USD 22.97billion.

The RBI said both the special drawing rights and reserve position in the IMF were up during the reporting week.

The RBI data showed that the SDRs increased by USD 15 million to USD 4.605 billion while India's reserve position in the IMF also increased by a marginal USD 10 million to USD 2.97billion.

(Sourced from the statesman)