India's forex reserves dip by $ 1.581 billion to $ 611.149 billion

India's forex reserves dip by $ 1.581 billion to $ 611.149 billion

Mumbai, July 30, 2021

Reversing a four-week uptrend, India's foreign exchange reserves dipped by $ 1.581 billion to $ 611.149 billion during the week ended July 23, 2021, the Reserve Bank of (RBI) said here today.

The country's foreign exchange reserves had gone up by $ 835 million to a record high of $ 612.730 billion in the previous week.

In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had fallen by $ 1.120 billion to $ 567.628 billion during the week.

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

According to the bulletin, the country’s gold reserves decreased by $ 449 million to $ 36.884 billion, while its special drawing rights (SDRs) were lower by $ 3 million at $ 1.546 billion.

The country's reserve position in the International Monetary Fund (IMF) went down by $ 9 million to $ 5.091 billion, the bulletin added.

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