India’s Forex Reserves Declined By $1.39 Bn

The figures disclosed by the weekly statistical supplement released by the Central Bank (RBI) showed that India’s foreign exchange reserves for the week ended May 01 has declined by $1.39 billion to $251.702 billion.

It should be noted that the reserves came up by $631 million to $253.091 billion during the week ended April 24.

The reports said that the recent fall in foreign exchange reserves was mainly due to a revaluation of reserves and a reduction in price of gold assets held by RBI.