Foreign exchange reserves drop $10.7 billion to $690.43 billion
The forex had hit an all-time high of $704.885 billion at the end of September.
India’s foreign exchange reserves rose by $1.013 billion during the week ended July 2, RBI data showed.
According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $610.012 billion from $608.999 billion reported for the week ended June 25.
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India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).
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On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $748 million to $566.988 billion.
Similarly, the value of the country’s gold reserves rose by $76 million to $36.372 billion.
Besides, the SDR value increases by $49 million to $1.548 billion.
In addition, the country’s reserve position with the IMF rose by $139 million to $5.105 billion.
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