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Forex reserves down $956.4 mn to $368.998 bn

Date 17-Apr-2017
Subject Forex reserves down $956.4 mn to $368.998 bn

MUMBAI: India's foreign exchange reserves declined by $956.4 million to $368.998 billion for the week ended April 7 due to fall in foreign currency assets, the Reserve Bank of India said.

The reserves had increased by $2.022 billion to $369.954 billion in the previous reporting week.

They had touched a lifetime high of $371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $951 million to $345.367 billion in the reporting week, RBI said. Gold reserves remained unchanged at $19.869 billion, the Apex Bank said.

Source: Dailyshippingtimes.com

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