News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay  » Business » India's forex reserves drop $2.92 bn to $652.9 bn

India's forex reserves drop $2.92 bn to $652.9 bn

Source: PTI
June 21, 2024 22:11 IST
Get Rediff News in your Inbox:

India's forex reserves dropped by $2.922 billion to $652.9 billion for the week ended June 14, the Reserve Bank said on Friday.


Photograph: Dado Ruvic/Reuters

In the previous reporting week, the kitty had jumped by $4.307 billion to $655.817 billion, a new all-time high after consecutive weeks of increase in the reserves.


For the week ended June 14, foreign currency assets, a major component of the reserves, decreased by $2.1 billion to $574.24 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 decreased by $1.015 billion to $55.97 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $54 million to $18.107 billion, the apex bank said.

India's reserve position with the IMF was up by $245 million to $4.581 billion in the reporting week, the apex bank 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!