Moneycontrol
Last Updated : Jul 13, 2018 07:25 PM IST | Source: PTI

Forex reserves dip by $248.20 million to $405.81 billion

Forex reserves had touched a record high of $ 426.028 billion in the week to April 13, 2018. Reserves had crossed the $ 400-billion mark for the first time in the week to September 8, 2017, but have since been fluctuating.

Representative Image
Representative Image

The country's foreign exchange reserves declined by $ 248.20 million to $ 405.81 billion in the week to July 6, despite a rise in the foreign currency assets, RBI data showed. In the previous week, the forex reserves had declined by $ 1.76 billion to $ 406.06 billion.

Forex reserves had touched a record high of $ 426.028 billion in the week to April 13, 2018. Reserves had crossed the $ 400-billion mark for the first time in the week to September 8, 2017, but have since been fluctuating.

In the week under review, foreign currency assets, a major component of the overall reserves, rose marginally by $ 73.9 million to $ 380.792 billion, the RBI data showed.

Expressed in the US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves dropped by $ 329.9 million to $ 21.039 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) increased by $ 2.9 million to $ 1.489 billion.

The country's reserve position with the IMF also rose by $ 4.9 million to $ 2.489 billion, the apex bank said.
First Published on Jul 13, 2018 07:20 pm
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