India's foreign exchange reserves continue to fall; down $734.5 mn to $405.07 bn, shows RBI data
The forex reserves had touched a record high of $426.028 billion in the week to 13 April, 2018
Mumbai: The country's foreign exchange reserves declined $734.5 million to $405.075 billion for the week ended 13 July, Reserve Bank data showed on Friday.
The forex kitty had declined $248.20 million to $405.81 billion in the previous reporting week. The reserves had touched a record high of $426.028 billion in the week to 13 April, 2018.
In the week under review, foreign currency assets, a major component of the overall reserves, declined $789.1 million to $380 billion, the RBI data showed.
Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
Gold reserves increased by $75.4 million to $21.115 billion in the reporting week.
The special drawing rights with the International Monetary Fund (IMF) decreased by $7.8 million to $1.481 billion, while India's reserve position with the IMF also declined by $13 million to $2.476 billion.
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