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Forex reserves fall

The country’s foreign exchange reserves fell for the first time in over a month to $ 312.66 billion, recording a week-on-week fall of $ 2.27 billion. The reserves last fell in the week ended April 18 to $ 309.41 billion, while the fall in reserves by a similar quantum was recorded in the week ended January 3 to $ 293.11 billion, a fall of $ 2.6 billion.

Foreign currency assets, a key component of reserves fell by $ 2.26 billion to $ 285.56 billion. Gold reserves remained unchanged during the week.

For the week under review, the Special Drawing Rights (SDRs) fell by $ 9.8 million to $ 4.45 billion, while India’s reserve position with the International Monetary Fund was down $ 3.7 million to $ 1.68 billion.

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