Business & Economy

India’s forex reserves dip by $ 671 million to $ 396.68 billion

NetIndian News Network

Mumbai, January 25, 2019

India’s foreign exchange reserves dipped by $ 671 million to $ 396.68 billion during the week ended January 18, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had gone up by $ 1.267 billion to $ 397.351 billion during the previous week.
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had fallen by $ 653 million to $ 370.726 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 remained unchanged at $ 21.844 billion, while its special drawing rights (SDRs) decreased by $ 6.4 million to $ 1.465 billion.
India’s reserve position in the International Monetary Fund (IMF) went down by $ 11.6 million to $ 2.644 billion, the bulletin added.
NNN

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story?
and help us to serve you better.
NetIndian
www.netindian.in