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

Press Trust of India July 20, 2018 18:25:24 IST
India's foreign exchange reserves continue to fall; down $734.5 mn to $405.07 bn, shows RBI data

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.

Indias foreign exchange reserves continue to fall down 7345 mn to 40507 bn shows RBI data

US dollars. Reuters

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.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Centre says COVID-19 vaccine distribution via 'special immunisation programme'; active cases remain under 7 lakh
India

Centre says COVID-19 vaccine distribution via 'special immunisation programme'; active cases remain under 7 lakh

The Union health ministry also said that the number of new cases reported in the country remained below 60,000 for the fifth consecutive day

RBI governor Shaktikanta Das says second COVID-19 wave one of key risks to India's economic recovery
India

RBI governor Shaktikanta Das says second COVID-19 wave one of key risks to India's economic recovery

Shashanka Bhide, a member of the Monetary Policy Committee, also said uncertainties relating to COVID-19 will impact growth and inflation scenarios in the next two to three quarters

Centre waives interest on interest on loans up to Rs 2 cr, issues operational guidelines
India

Centre waives interest on interest on loans up to Rs 2 cr, issues operational guidelines

The scheme will be available irrespective of whether moratorium was availed or not, and will cover housing loans, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans