India's forex reserves fall by $ 3.271 billion to $ 600.423 billion

India's forex reserves fall by $ 3.271 billion to $ 600.423 billion

Mumbai, April 29, 2022

Going down for the seventh consecutive week, India's foreign exchange reserves fell by $ 3.271 billion to $ 600.423 billion during the week ended April 22, the Reserve Bank of India (RBI) said here today.

The forex reserves had dropped by $ 311 million to $ 603.694 billion during the previous week.

In its weekly statistical supplement released here on Friday, the Reserve Bank of India (RBI) said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone down by $ 2.835 billion to $ 533.933 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 went down by $ 377 million to $ 42.768 billion, while its special drawing rights (SDRs) decreased by $ 33 million to $ 18.662 billion during the week.

India's reserve position in the International Monetary Fund (IMF) fell by $ 26 million to $ 5.060 billion during the week, the bulletin added.

NNN

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