Forex Reserves Jump USD 5.9 Bn To USD 595 Bn
The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
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The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended May 26, the foreign currency assets, a major component of the reserves, declined by $4.014 billion to $520.931 billion, according to the Weekly Statistical Supplement released by the RBI on Friday.
Falling for the second consecutive week, India's forex reserves dropped by $4.34 billion to $589.14 billion for the week ended May 26, the Reserve Bank said on Friday. In the previous reporting week, the reserves had declined by $6.05 billion to $593.48 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
(This story has not been edited by THE WEEK and is auto-generated from a PTI
The Special Drawing Rights (SDRs) were down by USD 137 million to USD 18.276 billion, says the apex bank