India's forex reserves dropped

Foreign Reserve Exchange
India's foreign exchange (forex) reserves dropped by $1.22 billion at $311.48 billion for the week ended Sep 30, registering a sharp decline for the second straight week largely due to revaluation of non-dollar assets, official data showed. The country's foreign exchange reserves kitty has shrunk by $9.30 billion in the last four weeks after wselling to an all-time high of $320.78 billion for the week ended Sep 2. Foreign currency assets, the biggest component of the forex reserves kitty fell by $1.23 billion to $275.69 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India (RBI), the country's central bank.

1 comment:

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