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Market analysts attribute the decline in foreign currency assets to the RBI actively releasing dollars in the market to curb the volatility in the rupee.
In the preceding week that ended on March 15, the forex reserves had increased by a more robust $6.4 billion to scale a record high of $642.49 billion.
In the prior update, the total reserves had diminished by USD 2.417 billion, settling at USD 601.453 billion, , foreign exchange reserves, Reserve Bank of India (RBI), foreign currency assets
During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly $6.536 billion to $526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI.
During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly $6.536 billion to $526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI.
According to the Reserve Bank of India, gold reserves stood at Rs 3.75 lakh crore as on Mar 24, 2023, as against Rs 2.09 lakh crore as on Mar 20, 2020.
For the week ended April 14, the foreign currency assets, a major component of the reserves, increased by USD 2.204 billion to USD 516.635 billion, according to the Weekly Statistical Supplement released by the RBI.
India's foreign exchange reserves rose sharply by USD 12.798 billion to USD 572.801 billion in the week ending March 17, according to the Reserve Bank of India's latest data.