Forex kitty drops to $698 billion; value of gold held by India crosses $100 billion Representative Image
News Updates

Forex kitty drops to $698 billion; value of gold held by India crosses $100 billion

India's forex reserves dropped by $2.176 billion to $697.784 billion during the week ended October 10, according to the Reserve Bank data released on Friday

PTI

New Delhi: India's forex reserves dropped by USD 2.176 billion to USD 697.784 billion during the week ended October 10, according to the Reserve Bank data released on Friday.

In the previous reporting week, the overall kitty had decreased by USD 276 million to USD 699.96 billion.

PSU Watch is now on Whatsapp Channels. Click here to join

For the week ended October 10, foreign currency assets, a major component of the reserves, decreased by USD 5.605 billion to USD 572.103 billion, the data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of the gold reserves jumped by USD 3.595 billion to USD 102.365 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 130 million to USD 18.684 billion, the apex bank data said.

India's reserve position with the IMF was also down by USD 36 million at USD 4.632 billion in the reporting week, it showed.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

India, Russia to meet $100 billion trade target before 2030: Modi

DRDO hands over 7 indigenous technologies to armed forces, approves 12 new defence projects

NHAI gets SEBI in-principle approval to RIIT as InvIT; gets 6 months for compliances before final nod

DGCA sets up four-member panel to inquire into IndiGo flight disruptions; to submit report in 15 days

India, Russia sign MoU on training specialists for ships operating in polar waters