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India's forex reserves dip by $613.9mn to $393.12bn

While forex reserves had touched a record high of $426.028bn in the week to April 13, 2018, the forex kitty has been on a slippery slope and has glided by over $31bn since then.

December 23, 2018 2:02 IST | India Infoline News Service
India's foreign exchange reserves dipped by $613.9mn to $393.12bn in the week to December 14, 2018 owing to a fall in foreign currency assets, as per RBI data.

In the previous week, forex reserves increased by $16.6mn to $393.734bn.

In the week to Dec 14, foreign currency assets fell $631.6 million to $367.865bn. In terms of US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound, and yen held in the reserves.

While forex reserves had touched a record high of $426.028bn in the week to April 13, 2018, the forex kitty has been on a slippery slope and has glided by over $31bn since then.

Meanwhile, Gold reserves rose by $37.2mn to $21.187bn in the reporting week. The special drawing rights with the International Monetary Fund (IMF) dipped by $7mn to $1.45bn.

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