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.

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