India's Forex Reserves Experience a Notable Dip
India's forex reserves fell by USD 2.065 billion to USD 686.064 billion as of May 2, according to RBI. This dip follows a previous increase of USD 1.983 billion. While foreign currency assets rose, gold reserves and IMF positions slightly decreased, impacting the overall reserve figures.
- Country:
- India
India's foreign exchange reserves saw a decline of USD 2.065 billion, totaling USD 686.064 billion for the week ending May 2, as reported by the Reserve Bank of India on Friday.
This downturn follows a previous week where the reserves had increased by USD 1.983 billion, reflecting fluctuations in the economic parameters impacting the forex reserves.
The data further showed an increase in foreign currency assets, up by USD 514 million, while gold reserves and India's position with the IMF decreased, adding dynamics to the financial landscape.
(With inputs from agencies.)
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