India Forex

India’s foreign exchange reserves have depleted by $593.7 million. (IANS photo)

MUMBAI — India's foreign exchange (Forex) reserves have depleted by $593.7 million as of June 1, official data showed June 8.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves declined to $412.23 billion from $412.82 billion reported for the week ended May 25.

India's forex reserves comprise of foreign currency assets (FCAS), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund.

Segment-wise, FCAs – the largest component of the Forex reserves – decreased by $81.3 million to $387.51 billion during the week under review. 

Besides the U.S. dollar, FCAs consist of nearly 20-30 percent of major global currencies. 

As per the data, the value of the country's gold reserves plunged by $511 million to $21.18 billion.

The SDRs' value inched down by $0.6 million to $1.49 billion, while the country's reserve position with the IMF also slipped by $0.8 million to $2.02 billion.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.