Forex Reserves Decline To USD 681.61 Billion In Week Ended June 5: RBI Data
Forex Reserves Decline After Previous Week's Gain
The country's forex reserves had increased by USD 938 million to USD 682.32 billion in the previous reporting week, reported PTI.
Foreign currency assets (FCAs), the largest component of the reserves, fell by USD 2.70 billion to USD 543.44 billion during the week under review. FCAs reflect the impact of fluctuations in non-US currencies such as the euro, pound sterling, and Japanese yen held in the reserves.
Meanwhile, gold reserves rose by USD 1.98 billion to USD 114.58 billion, partially offsetting the decline in foreign currency assets.
SDRs And IMF Position Show Marginal Movement
The RBI data also showed that Special Drawing Rights (SDRs) increased by USD 18 million to USD 18.77 billion.
India's reserve position with the International Monetary Fund (IMF) stood at USD 4.83 billion during the reporting week.
(KNN Bureau)
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