Forex reserves dip $1.08 bn

India’s foreign exchange reserves declined $1.08 billion to $261.21 billion for the week ended June 5, mainly due to fluctuation in the value of international currencies such as the euro, the pound and the yen.

In rupee terms, the reserves declined Rs 10,431 crore to Rs 2,61,217 crore. The rupee slipped to close at 47.61 to a dollar on Friday as against 47.10 on June 5.