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Forex reserves decline by $739 million to $414.14 billion, shows RBI data

In the previous week, the reserves had increased by $ 1.105 billion to touch $ 414.886 billion

Press Trust of India  |  Mumbai 

Forex reserves falling below $400 billion not a worry, say experts

After rising for the past many weeks, the country's declined by $ 739.2 million to $ 414.147 billion in the week to April 19, RBI data showed Friday.

In the previous week, the reserves had increased by $ 1.105 billion to touch $ 414.886 billion.

In the reporting week, foreign currency assets, which are a major component of the overall reserves, fell by $ 728.6 million to $ 386.033 billion.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and yen held in the reserves.

The kitty had touched a life-time high of $ 426.028 billion in the week to April 13, 2018.

Gold reserves remained unchanged at $ 23.303 billion, according to the data.

The special drawing rights with the was down by $ 3.2 million to $ 1.455 billion.

The country's reserve position with the Fund also decreased by $ 7.4 million to $ 3.354 billion, the Reserve Bank said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, April 26 2019. 19:50 IST
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