Forex reserves down by $1.26 bn to $400.52 bn

October 05, 2018 19:47

The country's foreign exchange reserves declined by $1.265 billion to $400.52 billion in the week to September 28 due to a fall in foreign currency assets, according to Reserve Bank of India data.

In the previous week, the reserves had risen by $1.3 billion to $401.790 billion. In the reporting week, foreign currency assets, a major component of the overall reserves, declined by $1.169 billion to $376.243 billion, as per the data.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen held in the reserves.

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018, but have been declining since then.

Gold reserves dipped by $70.7 million to $20.343 billion in the reporting week. The special drawing rights with the International Monetary Fund (IMF) declined by $10.4 million to $1.470 billion.

The country's reserve position with the IMF also dipped by $14.6 million to $2.468 billion, the apex bank said. -- PTI

« Back to LIVE

TOP STORIES

RCB, GT face off in must win clash

From a maths perspective, Royal Challengers Bengaluru and Gujarat Titans can still reach the IPL playoffs, but they need to ward off inner gremlins on Saturday to notch a mandatory win to keep that dream flickering.

Will new symbols dent Uddhav, Sharad Pawar's chances?

Even as the two parties appeared confident that they have reached out to every voter and publicised their new symbols, experts suggested varying impact of the split and the symbols on the vote bank.

Byju's may pay April salary to employees this week

Cash-strapped edtech firm Byju's is likely to pay its employees the April salaries this week, according to sources. The company is grappling with the issue of delays in paying salaries to employees. "There has been a delay in salary....

ICC Annual Rankings: India lead white-ball formats while Australia take top spot in Tests

The International Cricket Council issued the annual team rankings update on Friday, with Australia taking the top spot in Test cricket and India maintaining supremacy in both white-ball formats.

India's IPO market set to break May jinx in Lok Sabha election year

'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not...