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  Business   Economy  24 May 2019  Forex reserves decline by USD 2.05 bn to USD 417.99 bn

Forex reserves decline by USD 2.05 bn to USD 417.99 bn

PTI
Published : May 24, 2019, 7:39 pm IST
Updated : May 24, 2019, 7:39 pm IST

In the previous week, the reserves had risen by USD 1.368 billion to reach USD 420.055 billion.

The special drawing rights with the International Monetary Fund fell by USD 9.8 million to USD 1.444 billion. (Representative Image)
 The special drawing rights with the International Monetary Fund fell by USD 9.8 million to USD 1.444 billion. (Representative Image)

Mumbai: After rising for the past few weeks, the country's foreign exchange reserves declined USD 2.057 billion to USD 417.998 billion in the week to May 17 on account of a fall in foreign currency assets, RBI data showed Friday.

In the previous week, the reserves had risen by USD 1.368 billion to reach USD 420.055 billion.

 

In the reporting week, foreign currency assets, which are a major component of the overall reserves, decreased by USD 2.030 billion to USD 390.197 billion.

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

Gold reserves remained unchanged at USD 23.021 billion, according to the data.

The special drawing rights with the International Monetary Fund fell by USD 9.8 million to USD 1.444 billion.

The country's reserve position with the Fund also declined by USD 16.9 million to USD 3.334 billion.

Tags: rupee, us dollar, forex, international monetary fund
Location: India, Maharashtra, Mumbai (Bombay)