Forex Reserve: The country’s foreign exchange reserves reduced by $ 4.89 billion, reduction of $ 5.12 billion in gold reserve – India Forex Reserve Dropped 4 89 Billion Doller for the Week Ended May 16 Gold Reserve Down 5 12 Billion Dollar

The country’s foreign exchange reserves declined by $ 4.89 billion to $ 685.73 billion in the week ended on 16 May. The Reserve Bank of India (RBI) released data related to it on Friday. A week before this, the total foreign exchange reserves rose $ 4.55 billion to $ 690.62 billion. At the end of September 2024, the foreign exchange reserves reached $ 704.88 billion at all time high.

According to the Reserve Bank data, the foreign currency assets rose $ 27 million to $ 581.65 billion in the week ended on 16 May. They are an important part of foreign exchange reserves. Foreign currency assets to be expressed on dollars include the effects of fluctuations in non-American currencies such as euros, pounds and yen.

Gold reserve condition

The value of Gold Reserve declined by $ 5.12 billion to $ 81.22 billion in the week ended on 16 May. In the earlier week, the Gold Reserve recorded a boom of $ 4.52 billion. According to the data, Special Drawing Rights (SDRS) fell by $ 4.3 million to $ 18.49 billion.

According to the central bank data, in the week ended on 16 May, the International Monetary Fund (IMF) reserved India’s deposit by $ 3 million to $ 4.37 billion. The Reserve Bank of India releases the data of the virtuous currency reserves and the gold reserve every week.