India's FX reserves decline $4.89 bln on week to $685.73 bln as of May 16
This story was originally published at 20:19 IST on 23 May 2025
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--RBI: India May 16 FX reserves $685.73 bln, down $4.89 bln on week
NEW DELHI – India's foreign exchange reserves fell to $685.73 billion as of May 16, down $4.89 billion from the previous week, mainly due to a fall in the Reserve Bank of India's gold reserves, data released by the RBI on Friday showed.
The value of the RBI's gold holdings fell by $5.12 billion in the reported week from the all-time high of $86.34 billion touched the previous week. Foreign currency assets as of May 16 were at $581.65 billion, up just $279 million.
Calculated in dollar terms, the RBI's foreign exchange reserves also reflect the impact of appreciation or depreciation of currencies other than the US dollar, such as the euro, the pound sterling, and the yen, held by the central bank. End
US$1 = INR 85.21
Reported by Pratiksha
Edited by Tanima Banerjee
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