Foreign exchange reserves declined for the third consecutive week, decreased by $ 2.41 billion

Mumbai/New Delhi, 03 May (HIST). The country's foreign exchange reserves have declined for the third consecutive week. The country's foreign exchange reserves declined by $2.41 billion to $637.92 billion in the week ending April 26. During this period, the reserve value of gold reserves has decreased by $ 1.27 billion to $ 55.53 billion.

The Reserve Bank of India (RBI) said in the data released on Friday that in the week ending April 26, the country's foreign exchange declined by $ 2.41 billion to $ 637.92 billion. Due to this, in the last week the foreign exchange reserves had declined by $ 2.28 billion and stood at $ 640.33 billion. Foreign currency assets, considered an important component of foreign exchange reserves, have declined by $ 1.16 billion to $ 559.70 billion.

According to the Reserve Bank, during this period the reserve value of gold reserves has decreased by $ 1.27 billion to $ 55.53 billion. The Reserve Bank said that Special Drawing Rights (SDR) have increased by $ 15 million to $ 18.04 billion. According to RBI data, India's reserve deposits with the International Monetary Fund (IMF) have increased by $ 8 million to $ 4.64 billion during this period.

Earlier, in the week ending April 5, the country's foreign exchange reserves had reached the highest level of $ 648.56 billion. Earlier in September, 2021, foreign exchange reserves had reached a record $ 642.45 billion.