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India's Forex Reserves Down at $312 Billion as of May 30
Mumbai:

India's forex reserves fell by $273.8 million to $312.382 billion in the week to May 30, mainly on account of a drop in currency assets.



After weeks of gains, the reserves nosedived by a whopping $2.268 billion to $312.656 billion in the previous week.

Foreign currency assets (FCAs), a major constituent of overall reserves, dipped by $269.3 million to $285.291 billion in the period under review, the Reserve Bank of India (RBI) said in a statement.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in reserves.

Gold reserves remained unchanged at $20.965 billion in the reporting week.

Special drawing rights declined by $3.3 million to $4.449 billion, and India's reserve position with the IMF dipped $1.2 million to $1.676 billion in the period under review, the apex bank said.