India's forex reserves slide $11.17 bn to $606.475 bn

April 08, 2022 20:10

In the steepest weekly fall ever, India's forex reserves slid by $11.173 billion to $606.475 billion as the currency came under pressure due to geopolitical developments, according to the Reserve Bank data released on Friday.

For the previous reporting week ended March 25, the overall reserves had slid by $2.03 billion to $617.648 billion.

The steep fall in the reserves was because of a decline in the core currency assets, which fell by $10.727 billion to $539.727 billion.

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. -- PTI

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