Forex reserves dip by $2.59 bn to $399.66 bn

Posted by Daily Shipping Times on 09-10-2017        Tweet

MUMBAI: The Country’s foreign exchange reserves fell by USD 2.590 billion to USD 399.656 billion in the week ended September 29 due to decline in foreign currency assets, RBI data showed.

In the previous week, the reserves decreased by USD 262.3 million to USD 402.246 billion, after touching a lifetime high of USD 402.509 billion in the week to September 15.

The foreign currency assets, a major component of the overall reserves, decreased by USD 2.565 billion to USD 375.186 billion, the data showed.

Gold reserves remained unchanged at USD 20.691 billion.

The special drawing rights with the International Monetary Fund (IMF) declined by USD 10 million to USD 1.502 billion.

The Country’s reserve position with the IMF declined by USD 15.2 million to USD 2.276 billion, the Apex Bank said.