Forex

Forex reserves decline by $1.3 billion to $422.2 billion

PTI Mumbai | Updated on June 21, 2019 Published on June 21, 2019

In the reporting week, foreign currency assets, which is a major component of the overall reserves, decreased by $1.353 billion to $ 394.44 billion   -  BusinessLine

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018

India’s foreign exchange (forex) reserves declined by $1.358 billion to $422.2 billion in the week to June 14 due to fall in foreign currency assets, Reserve Bank of India (RBI) data showed.

Forex reserves had increased by $1.686 billion to $423.554 billion in the previous reporting week.

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018.

In the reporting week, foreign currency assets, which is a major component of the overall reserves, decreased by $1.353 billion to $ 394.44 billion.

Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-United States (US) units like the euro, pound and yen held in the reserves.

Gold reserves remained stable at $ 22.958 billion, according to the RBI data.

Special drawing rights with the International Monetary Fund (IMF) fell by $ 0.1 million to $ 1.449 billion.

The country’s reserve position with the fund also declined by $ 0.2 million to $ 3.345 billion.

Published on June 21, 2019
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