Data released by Reserve Bank of India revealed that the country’s foreign exchange reserves declined in the last week. The foreign exchange reserve was rising or the past many weeks. In the week ended in April 19, the reserve declined by USD 739.2 million to USD 414.147 billion. In the previous week, the reserves had increased by USD 1.105 billion to touch USD 414.886 billion.
The foreign currency assets, which are a major component of the overall reserves, fell by USD 728.6 million to USD 386.033 billion. Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and yen held in the reserves.
Gold reserves remained unchanged at USD 23.303 billion, according to the data.
The special drawing rights with the International Monetary Fund was down by USD 3.2 million to USD 1.455 billion. The country’s reserve position with the Fund also decreased by USD 7.4 million to USD 3.354 billion, the Reserve Bank said.
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