Saturday, March 15, 2025 | 02:49 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Forex reserves fall $616.4 million to $293.69 billion

Foreign currency assets, major component of forex reserves, were down by $568.1 million to $263.16 billion

BS Reporter Mumbai
Foreign exchange reserves were down $616.4 million to $293.69 billion for the week ending May 10, the Reserve Bank of India (RBI) data showed on Friday. Foreign currency assets were down $568.1 million to $263.16 billion.

Foreign currency assets expressed in dollars include the effect of appreciation or depreciation of non-US currencies, such as  the pound, euro and yen, held in RBI reserves.

Gold reserves were at $23.97 billion. The reserves are revalued by RBI once a month and the last revaluation was done on May 3 when the reserves had dropped $1,717.9 million. The drop in gold reserves was because in the recent past, prices of the yellow metal had tumbled sharply.
 
For the week under review, Special Drawing Rights were down $31.9 million to $4.33 billion, while India’s reserve position with the International Monetary Fund was down $16.4 million to $2.23 billion.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 18 2013 | 12:04 AM IST

Explore News