Forex reserves drop $2.92 bn to $652.89 bn for week ended June 14

India's forex reserves dropped by $2.922 billion to $652.895 billion for the week ended June 14, the Reserve Bank said on Friday.

In the previous reporting week, the kitty had jumped by $4.307 billion to $655.817 billion, a new all-time high after consecutive weeks of increase in the reserves.

For the week ended June 14, foreign currency assets, a major component of the reserves, decreased by $2.097 billion to $574.24 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.

 

Gold reserves decreased by $1.015 billion to $55.967 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $54 million to $18.107 billion, the apex bank said.

India's reserve position with the IMF was up by $245 million to $4.581 billion in the reporting week, the apex bank data showed.