India’s forex reserves dropped Rs 2.06 billion to Rs 686.06 billion for the week ended May 2, the RBI said on Friday.
Illustration: Dado Ruvic/Reuters
In the previous reporting week, the overall kitty had increased Rs 1.98 billion to Rs 688.13 billion.
The forex reserves had touched an all-time high of Rs 704.88 billion in end-September 2024.
For the week ended May 2, foreign currency assets, a major component of the reserves, increased Rs 514 million to Rs 581.18 billion, the data released on Friday showed.
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.
Gold reserves decreased Rs 2.55 million to Rs 81.82 billion during the week, the RBI said.
The special drawing rights were down Rs 30 million to Rs 18.56 billion, the apex bank said.
India’s reserve position with the IMF was also down Rs 3 million at Rs 4.51 billion in the reporting week, the apex bank data showed.
