 "Forex reserves down by $4.18 billion")
The foreign exchange reserves plummeted by $4.18 billion to $287.90 billion for the week ended May 31 in the wake of sharp fall in currency assets and gold reserves, the Reserve Bank said today.
Total forex reserves had risen by $110 million to $292.07 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, dipped by $3.056 billion to $258.51 billion for the week ended May 31, the Reserve Bank said in data released today.
The gold reserves went down by $1.138 billion to $22.836 billion, the apex bank said.
For the week under review, the special drawing rights (SDRs) were up by $10.4 million to $4.327 billion, while the country's reserve position with the IMF was also up by $5.3 million to $2.225 billion, the apex bank data showed.
Total forex reserves had risen by $110 million to $292.07 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, dipped by $3.056 billion to $258.51 billion for the week ended May 31, the Reserve Bank said in data released today.
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Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
The gold reserves went down by $1.138 billion to $22.836 billion, the apex bank said.
For the week under review, the special drawing rights (SDRs) were up by $10.4 million to $4.327 billion, while the country's reserve position with the IMF was also up by $5.3 million to $2.225 billion, the apex bank data showed.