Forex Reserves Fall to $412.83 Billion

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    As per the RBI data, forex reserves for the week ended May 25, pluged by US$ 2.23 billion to US$ 412.83 billion on the back of decline in core currency assets. In the reporting week, the fall in forex reserves amounted to as mucb as US$ 2.64 billion and reached US$ 415.05 billion.

    Forex Reserves Fall to $412.83 Billion

    The country's reserves for the first time crossed the US$ 400 billion work in the week ended September, 2017. And in the week to April 13, the reserves hit a record high of US$ 426.028 billion.

    The central bank said there has been a fall in core currency assets by US$ 2.229 billion to US$ 387.59 billion.

    The foreign currency assets or FCAs denoted in terms of the US dollar includes the effect of depreciation or appreciation of non-US currencies like the pound, yen and the euro.
    The gold reserves remained though unchanged for the reporting week at US$ 21.70 billion.

    Special drawing rights of the county also came in lower at US$ 1.498 billion with a fall of US$ 2.9 million.

    Goodreturns.in

    Story first published: Saturday, June 2, 2018, 15:14 [IST]
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