For Quick Alerts
For Daily Alerts

    Forex Reserves Fall From Record Highs


    After rising for three consecutive weeks, the country's foreign exchange reserves declined by $2.592 billion to $340.412 billion in the week to April 10 as foreign currency assets declined, the Reserve Bank said.

    In the previous reporting week, the forex reserves had increased by $1.627 billion to $343.005 billion, which was a lifetime high.

    Forex Reserves Fall From Record Highs

    Foreign currency assets (FCAs), a major part of the overall reserves, dropped by $.510 billion to $316.131 billion during the week, the RBI data showed.

    Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

    The country's gold reserves remained stable at USD 19.038 billion for the reporting week.

    The special drawing rights with the International Monetary Fund fell by $61.9 million to $3.959 billion, while the country's reserve position with the Fund also declined by $20 million to $1.283 billion, the apex bank said.


    Read more about: forex
    Story first published: Saturday, April 18, 2015, 11:11 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more