Home News india forex reserves: Forex reserves fall by another $1.152 billion

india forex reserves: Forex reserves fall by another $1.152 billion

by WOOWinvest
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india forex reserves: Forex reserves fall by another $1.152 billion


India’s foreign exchange reserves fell by another $1.152 billion in the week ended July 22, reflecting an unabated, albeit slower, decline in foreign exchange reserves.

Reserves stood at $571.560 billion, compared with an all-time high of $642.453 billion set on September 3 last year, RBI data showed.

Reserves have fallen by more than $15 billion in the past two weeks.

While dollar outflows are largely responsible for this trend, changes in the valuation of reserves held in global currencies other than the dollar are also partly responsible.

The RBI did not provide any rationale behind the reserve movement.

Among the current reserves, foreign currency assets are US$510.136 billion, and gold reserves are US$38.502 billion. The balance is deposited with the International Monetary Fund as Special Drawing Rights and Reserves.

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