Forex reserves down $1.58 billion to $611 billion
The country’s foreign exchange reserves fell by $ 1.58 billion to $ 611.17 billion in the week ended July 23 after four weeks of gains.
The Reserve Bank today said that the country’s foreign exchange reserves crossed $ 612 billion for the first time on July 23. For the week ended July 16, foreign exchange reserves increased by $ 835 million to a record level of $ 612.73 billion. Earlier in the week ended July 09, it was at $ 611.90 billion with an increase of $ 1.88 billion.
The forex asset, the largest component of forex reserves, declined by $1.12 billion to $567.62 billion in the week ended July 23. During this period, gold reserves also fell by $ 44.9 million to $ 36.88 billion.
Reserves with the International Monetary Fund declined by $9 million to $5.09 billion in the week under review. The special drawing rights were down by $3 million to $1.54 billion.
