India's forex reserves dip by $ 4.148 billion to $ 603.933 billion

India's forex reserves dip by $ 4.148 billion to $ 603.933 billion

Mumbai, June 25, 2021

Reversing a nine-week uptrend, India's foreign exchange reserves dipped by $ 4.148 billion to $ 603.933 billion during the week ended June 18, 2021, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had risen by $ 3.074 billion to an all-time high of $ 608.081 billion during 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 $ 1.918 billion to $ 561.540 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 declined by $ 2.170 billion to $ 35.931 billion, while its special drawing rights (SDRs) were lower by $ 14 million at $ 1.499 billion.

The country's reserve position in the International Monetary Fund (IMF) went down by $ 46 million to $ 4.965 billion, the bulletin added.

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