Comments
Foreign exchange reserves had their second consecutive weekly fall, coming down by $1.37 billion to $291.80 billion on the back of a decline in the core currency assets.
The reserves had dwindled by $2.19 billion to $293.17 billion in the previous week.
Foreign currency assets, a major component of the forex reserves, dropped by $1.33 billion to $257.86 billion for the week ended May 11, the Reserve Bank said today.
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 apex bank said.
The gold reserves were unchanged at $26.61 billion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.