MUMBAI: India’s forex exchange reserves fell by $2.065 billion to $686.06 billion for the week ended May 2, according to the latest data released by the Reserve Bank of India (RBI) on Friday.
This marks a reversal from the previous week, when the forex reserves had risen by $1.983 billion to $688.129 billion. The forex kitty had touched an all-time high of $704.885 billion in end-September 2024.
Among the components, foreign currency assets — the largest portion of the reserves — rose by $514 million to $581.177 billion. These assets are expressed in dollar terms and reflect the impact of movements in non-dollar currencies such as the euro, pound, and yen.
Meanwhile, gold reserves declined by $2.545 billion to $81.82 billion during the reporting week. The value of Special Drawing Rights (SDRs) fell by $3 million to $18.558 billion, while India’s reserve position with the International Monetary Fund (IMF) also dropped by $3 million to $4.509 billion, the RBI data showed.
