News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 1 year ago
Rediff.com  » Business » Forex reserves dip by $5.87 bn to $590.59 bn

Forex reserves dip by $5.87 bn to $590.59 bn

Source: PTI
June 24, 2022 19:53 IST
Get Rediff News in your Inbox:

The country's foreign exchange reserves declined by $5.87 billion to $590.59 billion in the week ended on June 17, the RBI data showed.

Forex

Photograph: Mohamed Abd El Ghany/Reuters

In the previous week ended on June 10, the reserves had dropped by $4.6 billion to $596.46 billion.

In the reporting week, the forex reserves fell due to a dip in foreign current assets (FCAs), a major component of the overall reserves, and also in gold reserves, the data showed.

 

FCA decreased by $5.36 billion to $526.88 billion, according to the Weekly Statistical Supplement, released by the Reserve Bank of India (RBI) on Friday.

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 fell by $258 million to $40.58 billion.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dropped by $233 million to $18.15 billion in the week ended June 17.

The country's reserve position with the IMF also dipped by $17 million to $4.97 billion in the reporting week, the data showed.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!