India’s Forex reserves down by USD 306 mn at USD 601.057 bn: RBI

After rising for 2 consecutive weeks, the nation’s international trade reserves declined by USD 306 million to USD 601.057 billion within the week ended June 3, based on RBI knowledge.

In the earlier week, the reserves had elevated by USD 3.854 billion to USD 601.363 billion. It had risen by USD 4.23 billion to USD 597.509 billion within the week ended May 20.

During the week ended June 3, the decline within the reserves was on account of a fall in Foreign Currency Assets (FCA), a serious part of the general reserves.

FCA declined by USD 208 million to USD 536.779 billion within the reporting week, based on the Weekly Statistical Supplement launched by the Reserve Bank of India (RBI) on Friday.

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Expressed in greenback phrases, the FCA embrace the impact of appreciation or depreciation of non-US items like euro, pound and yen held within the international trade reserves.

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Gold reserves dipped by USD 74 million to USD 40.843 billion.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dropped by USD 28 million to USD 18.41 billion, RBI mentioned. The nation’s reserve place with the IMF elevated by USD 5 million to USD 5.025 billion within the reporting week, the info confirmed.