India's forex reserves dip below $600 billion, making eighth weekly fall

  • RBI’s data shows that India’s forex reserves dropped by $2.695 billion to $597.73 billion in the week ending April 29.

India’s forex reserves erased the $600 billion mark and continued on its downward trend for the eighth consecutive week. As per the latest data from RBI, the country’s foreign exchange (forex) reserves stands at $597.73 billion in the week ending April 29, 2022.
RBI’s data shows that India’s forex reserves dropped by $2.695 billion to $597.73 billion in the week ending April 29.
All the components in the foreign exchange reserves recorded a downside.
In the week ending April 29, the foreign currency assets fell by $1.110 billion to $532.82 billion.
Meanwhile, in the week under review, gold reserves dipped by $1.164 billion to $41.60 billion. SDR reserves stood at $18.3 billion lower by $362 million.
The country’s reserve position in IMF is at $5.001 billion lower by $59 million in the week ending April 29.
India’s forex reserves were at an all-time high of $642.453 billion on September 3, 2021.
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