India's forex reserves dip around $2 billion

Indias foreign exchange reserves fell by $2.11 billion in the week that ended February 20 to $723.60 billion, after hitting a new all-time high recently, according to the Reserve Bank of Indias latest data. Foreign exchange reserves dipped in the latest week, driven by a drop in gold reserves and foreign currency assets. Foreign exchange reserves touch record high of $725.72 billion in February. For the reported week, Indias foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at $572.56 billion, down $1.039 billion. The gold reserves are at $127.48 billion, down $977 million from the previous week.

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