Economy

Forex reserves slip $720 m

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After two consecutive weeks of increase, the country’s foreign exchange reserves fell by $720.3 million to $292.65 billion during the week ended March 20, on a slip in the core currency assets, the Reserve Bank of India said in its weekly statistical supplement.

Total reserves had risen by $1 billion to $293.37 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, were down by $689.4 million to $259.73 billion for the week ended March 20, the Reserve Bank said.

Gold reserves remained unchanged at $26.292 billion, it said.

For the week under review, special drawing rights declined by $14.3 million to $4.327 billion.

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Printable version | Sep 22, 2017 6:49:12 AM | http://www.thehindu.com/business/Economy/forex-reserves-slip-720-m/article4588852.ece