Currency fluctuations pull down Indian foreign exchange reserves by USD 1.03 billion

Mumbai, July 25 (ANI): India’s foreign exchange reserves have reportedly dipped by USD 1.03 billion in the week ending July 17 owing to currency fluctuations and international financial instability.

Data furnished by the Reserve Bank of India (RBI), in its weekly statistical supplement, reveals India’s foreign exchange reserves stood at USD 353.32 billion.

Foreign reserves have been on the decline for the past month. On June 26, it was pegged at USD 237.5 million.

The dip in foreign reserves is also being attributed to the debt crisis in Greece and the crash of Chinese shares.

Foreign Currency Assets (FCAs), the largest component of FOREX reserves declined by USD 982 million and stood at USD 328.93 billion.

Gold reserves were stagnant at USD19.07 billion.

Special Drawing Rights (SDRs) went down by USD 39.6 million to USD 4.01 billion.

India’s reserve position with the International Monetary Fund (IMF) fell by USD 12.8 million to USD 1.30 billion. (ANI with inputs)

Related Posts

Leave a Reply