Millennium Post

Forex reserves dip by $3.20 billion in just two weeks

Dropping for the second straight week, India's foreign exchange reserves plummeted by a hefty $3.20 billion to $284.65 billion on a heavy decline in the currency assets, the Reserve Bank said on Friday.

Forex reserves had declined by $2.82 billion to $287.85 billion in the previous reporting week.Foreign currency assets (FCAs), a major component of forex reserves, slipped by $3.15 billion at $255.28 billion for the week ended 28 June, the RBI data showed.

FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.The gold reserves remained unchanged at $22.836 billion during the week under review.
Next Story
Share it