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India's forex reserves dropped USD 711 million to USD 681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday. In the previous reporting week, the overall reserves had jumped USD 938 million to USD 682.321 billion. For the week ended June 5, foreign currency assets -- a major component of the reserves -- was down USD 2.704 billion to USD 543.444 billion, the data released by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. However, the value of gold reserves increased USD 1.975 billion to USD 114.575 billion during the week, the RBI said. The special drawing rights (SDRs) were up USD 18 million to USD 18.765 billion, the RBI said. India's reserve position with the IMF stood at USD 4.826 billion in the reporting week, it added.
India's forex reserves jumped USD 5.543 billion to USD 692.576 billion during the week ended November 14 due to a steep increase in the value of gold reserves, the RBI said on Friday. The overall reserves had dropped by USD 2.699 billion to USD 687.034 billion in the previous reporting week. For the week ended November 14, foreign currency assets, a major component of the reserves, increased by USD 152 million to USD 562.29 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Value of the gold reserves jumped by USD 5.327 billion to USD 106.857 billion during the week, the RBI said. The Special Drawing Rights (SDRs) grew by USD 56 million to USD 18.65 billion, the apex bank said. India's reserve position with the IMF increased by USD 8 million to USD 4.779 billion in the reporting week, the apex bank
India's forex reserves rose by USD 2.703 billion to USD 698.192 billion during the week ended July 25, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped USD 1.183 billion to USD 695.489 billion. For the week ended July 25, foreign currency assets, a major component of the reserves, increased by USD 1.316 billion to USD 588.926 billion, the data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves grew by USD 1.206 billion to USD 85.704 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 126 million to USD 18.809 billion, the apex bank said. India's reserve position with the IMF was higher by USD 55 million at USD 4.753 billion in the reporting week, the RBI data showed.
Union Commerce Minister Piyush Goyal on Thursday said the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term. Goyal held a meeting with representatives of the industrial association at the AURIC hall on Wednesday to discuss issues related to industrial zones. He addressed the press on Thursday regarding the issues raised in the meeting. While talking about the downfall of the Indian rupee, he said, "The Indian rupee has strengthened in comparison to the emerging economies of the country. After US elections almost all the currencies across the globe have come down. But India had good reserves of foreign exchange so the Indian rupee performed better than that of other currencies". Goyal said, "We had a conversation with the industrial representatives on