Left Menu
Development News Edition

Forex reserves continue to fall; down $734.5 mn to $405.07 bn

The forex kitty had declined USD 248.20 million to USD 405.81 billion in the previous reporting week.


Forex reserves continue to fall; down $734.5 mn to $405.07 bn
Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves. (Image Credit: Twitter)

The country's foreign exchange reserves declined USD 734.5 million to USD 405.075 billion for the week ended July 13, Reserve Bank data showed today.

The forex kitty had declined USD 248.20 million to USD 405.81 billion in the previous reporting week. The reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018.

In the week under review, foreign currency assets, a major component of the overall reserves, declined USD 789.1 million to USD 380 billion, the RBI data showed.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves increased by USD 75.4 million to USD 21.115 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) decreased by USD 7.8 million to USD 1.481 billion, while India's reserve position with the IMF also declined by USD 13 million to USD 2.476 billion.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

SDG13: How you can reduce global warming by changing your food habits

The mega narratives of various international organizations give the impression that fighting global warming is only a job of government agencies. However, the European Investment Bank EIB has designed a questionnaire which besides making th...

Videos

Latest News

KVIC seeks govt help to prevent misuse of 'Charkha' symbol by pvt players

Khadi and Village Industries Commission KVIC has approached the government seeking help to protect the misuse of the Charkha symbol by private players, nationally as well as internationally. KVIC Chairman V K Saxena said the matter has been...

Dozens of flights cancelled after Kazakh capital snowstorm

Dozens of flights were canceled Thursday after a snowstorm hit Kazakhstans capital Nur-Sultan amid unseasonably warm temperatures. Strong winds began battering the city of one million on Wednesday evening, leading to flights to Frankfurt, M...

Pranab Mukherjee delivers Sukumar Sen Memorial Lecture on electoral processes

Election Commission of India today organised the 1st Sukumar Sen Memorial Lecture instituted as a tribute to the first Chief Election Commissioner of India. Sh Sen had served as the first Chief Election Commissioner of India from 21st March...

Hyderabad FC extends Adil Khan's contract by next 3 years

Hyderabad FC on Thursday announced that it has signed a new deal with Adil Khan, extending his contract with the club till 2023. Im happy to make Hyderabad my home for the next 3 years. I have faith in this club and its management and belie...

Give Feedback