Mumbai: The country’s foreign exchange reserves declined by $ 2.078 billion to $ 505.56 billion from its all-time high during the week ended June 19. This information has been given in the data of the Reserve Bank of India.
According to the Reserve Bank, foreign exchange reserves have declined for the first time since April 24. At that time, the foreign currency assets had decreased by $ 113 million to $ 479.455 billion. The country’s foreign exchange reserves increased by $ 28.189 billion between April 24 and June 12. Earlier, in the week ending June 12, the country’s foreign exchange reserves had increased by $ 5.942 billion to touch a record high of $ 507.644 billion.
For the first time in the week ending June 5, the country’s foreign exchange reserves crossed the $ 500 billion level when it increased strongly to $ 8.223 billion to $ 501.703 billion. The decline in foreign currency reserves in the week ended June 19 is due to the decline in foreign currency assets, considered a significant part of the total reserves.
