India's Forex Reserves Drop by USD 10.75 Billion
By Rediff Money Desk, Mumbai Oct 18, 2024 17:27
India's forex reserves fell by USD 10.75 billion to USD 690.43 billion in the week ended October 11, the RBI said, marking one of the largest decreases in recent times.
Mumbai, Oct 18 (PTI) Declining for the second straight week, India's forex reserves dropped USD 10.746 billion to USD 690.43 billion for the week ended October 11 in one of the largest decreases in the kitty in recent times, the RBI said on Friday.
In the previous reporting week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion.
At the end of September, the reserves had hit an all-time high of USD 704.885 billion.
For the week ended October 11, foreign currency assets, a major component of the reserves, decreased by USD 10.542 billion to USD 602.101 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 USD 98 million to USD 65.658 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by USD 86 million to USD 18.339 billion, the apex bank said.
India's reserve position with the IMF was down by USD 20 million to USD 4.333 billion in the reporting week, the apex bank data showed.
In the previous reporting week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion.
At the end of September, the reserves had hit an all-time high of USD 704.885 billion.
For the week ended October 11, foreign currency assets, a major component of the reserves, decreased by USD 10.542 billion to USD 602.101 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 USD 98 million to USD 65.658 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by USD 86 million to USD 18.339 billion, the apex bank said.
India's reserve position with the IMF was down by USD 20 million to USD 4.333 billion in the reporting week, the apex bank data showed.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.77 ( -2.53)
- 52772969
- Vodafone Idea L
- 9.02 ( -0.44)
- 34797427
- Standard Capital
- 1.15 (+ 9.52)
- 33669934
- Filatex Fashions
- 1.08 (+ 1.89)
- 27453664
- Spicejet Ltd.
- 60.48 ( -1.10)
- 21769448
MORE NEWS
Tech Mahindra Q2 Profit Soars 153% to Rs 1,250...
Tech Mahindra's Q2 net profit surged 153.1% YoY to Rs 1,250 crore, driven by strong...
Waaree Energies IPO: Rs 1,277 Cr From Anchor...
Waaree Energies, a solar panel maker, raises Rs 1,277 crore from anchor investors ahead...
Campa Cola Forces Tata Consumer to Lower Prices
Campa Cola's aggressive pricing strategy has forced Tata Consumer Products to reduce...