 "RBI")
For the week ended June 28, foreign currency assets, a major component of the reserves, decreased $1.252 billion to $572.881 billion | Image: Bloomberg
India’s forex reserves dropped $1.713 billion to $651.997 billion for the week ended June 28, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the overall kitty had dropped $2.922 billion to $652.895 billion. The reserves had touched an all-time high of $655.817 billion as on June 7 this year.
For the week ended June 28, foreign currency assets, a major component of the reserves, decreased $1.252 billion to $572.881 billion, the data released on Friday showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
“Gold reserves were down $427 million to $56.528 billion during the week,” the RBI said.
“The special drawing rights (SDRs) declined $35 million to $18.014 billion,” the central bank said.
“India’s reserve position with the IMF was up USD 1 million to USD 4.573 billion in the reporting week,” the data added.
First Published: Jul 05 2024 | 6:21 PM IS