ANI
14 May 2022, 13:48 GMT+10
Mumbai (Maharashtra) [India], May 14 (ANI): India's foreign exchange (forex) reserves dropped by $1.77 billion to $595.95 billion for the week ended May 6 dragged by a sharp drop in the country's foreign currency assets, the Reserve Bank of India (RBI) data showed.
This is the ninth weekly drop in the country's foreign exchange reserves. During the week ended April 29, the forex reserves had dipped by $ 2.695 billion to $597.728. This is the lowest level of India's forex reserves in a year. India's forex reserves have fallen sharply after touching an all-time high of $642.453 billion on September 3, 2021.
According to the Reserve Bank of India's weekly statistical supplement, India's forex reserves dipped by $1.774 billion to $595.954 billion during the week ended May 6.
India's foreign currency assets, which is the biggest component of the forex reserves, slumped by $1.968 billion to $530.855 billion during the week under review, the RBI data showed.
Expressed in US dollar terms, the 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.
India's reserve position in the International Monetary Fund (IMF) dropped by $11 million to $4.990 billion during the week ended May 6.
However, the value of gold reserves rose by $135 million to $41.739 billion during the week under review.
The value of India's Special Drawing Rights (SDRs) with the International Monetary Fund rose by $70 million to $18.370 billion during the week ended May 6, the RBI data showed. (ANI)Get a daily dose of Afghanistan Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Afghanistan Sun.
More InformationWASHINGTON, D.C.: The Trump administration announced this week that it will create a fast-track approval process for energy and mining...
JERUSALEM - More than 80 ambassadors and heads of mission from across the world were addressed by Israeli Prime Minister Benjamin Netanyahu...
WASHINGTON, D.C.: U.S. lawmakers are turning up the heat on China's biggest telecom firms, issuing subpoenas to compel their cooperation...
BRUSSELS, Belgium: European pharmaceutical companies are pushing for higher drug prices across the EU, warning that current pricing...
WASHINGTON, D.C.: A nuclear power plant in Michigan is hoping to become the first in the U.S. to restart after being permanently shut...
WASHINGTON, D.C.: This week, the Federal Aviation Administration (FAA) said it is taking steps to stop collisions between helicopters...
(250429) -- ORDOS, April 29, 2025 (Xinhua) -- A worker shoulders salix mongolia, a drought-resistant willow tree species, at the Kubuqi...
A Nepali delegate (C) who participated in the Shanghai Cooperation Organization Political Parties Forum held in Urumqi dances with...
Paschim Medinipur (West Bengal) [India], April 28 (ANI): BJP leader Dilip Ghosh on Monday questioned the Jammu and Kashmir government's...
DUBAI, 28th April, 2025 (WAM) -- Noor Dubai Foundation, a charitable initiative under the Mohammed bin Rashid Al Maktoum Global Initiatives,...
Kabul [Afghanistan], April 28 (ANI): Indian Special Envoy Anand Prakash met with Amir Khan Muttaqi, Foreign Minister of the Islamic...
BEIJING, April 28 (Xinhua) -- A selection of the best press photos from Xinhua.A drone photo taken on April 26, 2025 shows the Heiyingshan...