For the week ended July 19, India’s foreign exchange reserves stood at $279.20 billion, down $0.985 billion, data from Reserve Bank of India (RBI) shows.
In the previous reporting week, the total reserves rose $21 million to $280.19 billion. Foreign currency assets, a major component of the forex reserves declined $999 million to $251.14 billion, the central bank data shows.
RBI said the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves is reflected in foreign currency assets expressed in US dollar terms.
During the week, the gold reserves were unchanged at $21.55 billion, RBI said. For the week under review, the special drawing rights (SDRs) were up by $9.5 million to $4.343 billion, while the country’s reserve position with the IMF was also up by $4.8 million to $2.167 billion, the RBI data showed.
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