India's forex reserves dropped by USD 3.471 billion to USD 667.386 billion for the week ended July 26, according to the RBI data released on Friday.In the previous reporting week, the kitty had jumped by USD 4.003 billion to an all-time high of USD 670.857 billion.
For the week ended July 26, foreign currency assets, a major component of the reserves, decreased by USD 1.171 billion to USD 586.877 billion, the data 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 USD 2.297 billion to USD 57.695 billion during the week, the data showed. The Special Drawing Rights (SDRs) were down by USD 5 million to USD 18.202 billion. India's reserve position with the IMF was up by USD 2 million to USD 4.612 billion in the reporting week.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
