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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

India's Forex Reserves Decline $5.40 Billion To $643.16 Billion

22-Apr-24 08:25 Hrs IST

India?s foreign exchange (forex) reserves declined $5.401 billion to $643.162 billion during the week ended April 12, according to the latest RBI data. In the previous reporting week, overall reserves had risen $2.88 billion to a new high of $648.562 billion.

For the week ended April 12, the foreign currency assets, a major component of the reserves, decreased by $6.513 billion to $564.653 billion, according to the data released on April 19.

Gold reserves continued their rise and increased by $1.241 billion to $55.798 billion during the week. The special drawing rights (SDRs) were down $93 million to $18.077 billion, the RBI said.

India?s reserve position with the IMF was also down by $35 million to $4.634 billion in the reporting week, the central bank data showed.

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