Home / Business and Economy / India's Forex Reserves Dip Amidst Gold Surge
India's Forex Reserves Dip Amidst Gold Surge
12 Jun
Summary
- India's forex reserves decreased by $711 million to $681.610 billion.
- Foreign currency assets saw a significant drop of $2.704 billion.
- Gold reserves, however, increased in value by $1.975 billion.
As of June 5, India's foreign exchange reserves reported a decrease of $711 million, bringing the total to $681.610 billion. This dip occurred despite a significant increase in the value of gold reserves.
Foreign currency assets, a major component of the overall reserves, declined by $2.704 billion. This drop was partially offset by a rise in gold holdings, which increased by $1.975 billion. Special drawing rights also saw a minor increase.
The previous week, the reserves had shown a jump of $938 million, reaching $682.321 billion. The Reserve Bank of India (RBI) released this data.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
