India's Forex Reserves Drop by $1.183 Billion

Mumbai, Jul 25 (PTI) India's forex kitty declined by USD 1.183 billion to USD 695.489 billion during the week ended July 18, the RBI said on Friday.

In the previous reporting week, the overall kitty had dropped by USD 3.064 billion to USD 696.672 billion. The reserves had touched an all-time high of USD 704.885 billion in end-September 2024.

For the week ended July 18, foreign currency assets, a major component of the reserves, slipped by USD 1.201 billion to USD 587.609 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.

However, the gold reserves increased by USD 150 million to USD 84.499 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 119 million to USD 18.683 billion, the apex bank said.

India's reserve position with the IMF declined by USD 13 million to USD 4.698 billion in the reporting week, the apex bank data showed.