Tag : SDRs

Mumbai: India's foreign exchange (forex) reserves fell by $306 million to $601.057 billion for the week ended June 3 dragged by a sharp decline in the value of foreign currency assets [https://www.aninews.in/topic/foreign-currency-assets], the Reserve Bank of India (RBI) data showed. The forex reserves have declined after two consecutive weeks of increase. The country's forex reserves had increased by $3.854 billion during the week ended May 27 and $4.23 billion in the previous week. According to the Reserve Bank of India's weekly statistical supplement, India's foreign currency assets [https://www.aninews.in/topic/foreign-currency-assets], which are the biggest component of the forex reserves, fell by $208 million to $536.779 billion for the week ended June 3. The foreign currency assets [https://www.aninews.in/topic/foreign-currency-assets] had jumped by $3.610 billion in the previous week. Expressed in US dollar terms, the foreign currency assets [https://www.aninews.in/topic/foreign-currency-assets] include the effect of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound Sterling and Japanese Yen held in the foreign exchange reserves. The value of gold reserves fell by $74 million to $40.843 billion during the week under review. The value of gold reserves had increased in the previous two weeks. The value of India's Special Drawing Rights (SDRs [https://www.aninews.in/topic/sdrs]) with the International Monetary Fund fell by $28 million to $18.410 billion during the week ended June 3, the RBI data showed. However, India's reserve position in the International Monetary Fund (IMF) increased by $5 million to $5.025 billion, as per the RBI Weekly Statistical ...