India’s foreign exchange reserves falls

India’s foreign exchange reserves have fallen by 2.995 billion US dollars to 277.167 billion in the week ended 2nd August.

RBI data released on Friday said that foreign currency assets, a major component of the forex reserves, have dropped by 2.155 billion US Dollars to 249.895 billion US dollars during last week, while gold reserves have dropped by 808.5 million dollars at 20.747 billion dollars.

For the week under review, the country’s reserve position with the International Monetary Fund also fell by 10.7 million dollars to 2.171 billion dollars.