India's forex reserves fall $4.82 billion to $698 billion, shows RBI data

Decline in foreign currency assets and gold reserves pulls down India's forex reserves in the week ended April 24, according to RBI data

India’s foreign exchange reserves decreased by $4.82 billion to $698 billion during the week ended April 24 on the back of a fall in foreign currency assets, the latest data by the Reserve Bank of India showed.

 

Foreign currency assets decreased by $2.84 billion during the reported week. Meanwhile, gold reserves fell by $1.89 billion to $120 billion during the same period.

 

The Special Drawing Rights were down by $67 million at $18.8 billion during the reported week. India’s reserve position with the International Monetary Fund was also down by $15 million to $4.86 billion.