look news india
Mumbai: After two consecutive weeks of increase, the country's foreign exchange reserves have declined. In the week ended June 16, 2024, it fell by $ 2.92 billion to $ 652.89 billion. Whereas in the week ended June 7, 2024, it increased by $ 4.30 billion to a record level of $ 655.81 billion. Reserve Bank of India (RBI) gave this information.
According to weekly data from the Reserve Bank, foreign currency assets, a major component of the foreign exchange reserves, declined by $2.097 billion to $574.24 billion in the week ended June 16.
Earlier, in the week ended June 7, it had increased by $3.773 billion to $576.33 billion.
Expressed in dollars, foreign currency assets incorporate the effects of fluctuations in non-U.S. currencies such as the euro, pound and yen.
According to the Reserve Bank, the gold reserves fell by 1015 million to $ 55.9 billion. Earlier on June 7, the gold reserves were at the level of $ 56.9 billion, the special drawing rights have decreased by $ 540 million to $ 18.10 billion.