Foreign Reserves Plunge by USD 1.03 Billion on Currency Fluctuations

Currency fluctuations coupled with international financial instability, saw India\'s foreign exchange reserves plunging.

Published: 25th July 2015 05:21 PM  |   Last Updated: 25th July 2015 05:21 PM   |  A+A-


MUMBAI: Currency fluctuations coupled with international financial instability, saw India's foreign exchange reserves plunging by $1.03 billion in the week ended July 17.

Data furnished by the Reserve Bank of India (RBI), in its weekly statistical supplement, showed that India's foreign exchange reserves stood at $353.32 billion.

This is the fourth straight week of decline in foreign reserves. The reserves had plunged by $237.5 million (June 26).

The foreign reserves had tripped on Greece's debt crisis and Chinese stock markets crash. They had then receded by over $700 million for the week ended July 3. Before that the reserves had fallen by 156.9 million to $354.36 billion (July 11).

Foreign exchange reserves till now had increased by close to $35-$40 billion since last year as overseas investors, buoyed by the hope of economic revival, poured in dollars in the local debt and equities markets.

During the week under review the foreign currency assets (FCAs) which constitutes the largest component of the forex reserves declined by $982 million and stood at $328.93 billion.

The country's gold reserves were stagnant at $19.07 billion.

The special drawing rights (SDRs) were down by $39.6 million to $4.01 billion. The country's reserve position with the International Monetary Fund (IMF) fell by $12.8 million to $1.30 billion.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp