Decline in forex reserves

MUMBAI, JULY 21. India's foreign currency reserves have declined by $ 37 million to $ 43,559 million for the week ended July 13, after recording increases for the past several weeks.

Foreign currency assets fell to $ 40,757 million, down by $ 37 million, in the reporting week, according to the Reserve Bank of India's weekly statistical supplement.

Gold reserves and special drawing rights stood at $ 2,798 million and $ 4 million respectively, remaining unchanged as compared to the previous week, RBI said.

Foreign currency assets expressed in dollar terms include the effect of appreciation/ depreciation of non-U.S. currencies such as euro, sterling and yen. Loans and advances by the RBI to the Central Government decreased by Rs. 6,798 crores in the week ended July 13 to Rs. 10,469 crores while that to the State governments fell by Rs. 346 crores to Rs. 4,478 crores, the apex bank added.

- PTI

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Section  : Business
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