Forex reserves fall USD 2.49 bn to USD 423.58 bn

Source: The Hitavada      Date: 28 Apr 2018 10:20:38



AFTER touching a life-time high, the country’s foreign exchange reserves fell by a whopping USD 2.499 billion to USD 423.582 billion in the week to April 20 due to a decrease in foreign currency assets, RBI data showed. In the previous week, the reserves had surged by USD 1.217 billion to touch a record high of USD 426.082 billion. It had crossed the USD 400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating. In the reporting week, the foreign currency assets, a major component of the overall reserves, declined by USD 2.492 billion to USD 398.485 billion.