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Foreign Exchange Reserves dip by USD 286 mn

Foreign exchange reserves reduced by $286 million on account of revaluation of non-dollar assets in reserves. Total reserves are now at $307.9 billion.

According to the latest data released by the Reserve Bank of India , foreign currency assets, comprising dollars, pounds and euro, among others, dipped $311million during the week.

The value of gold in reserves remained unchanged during the week.

In the other developments, the central government borrowed Rs 50,607 crore during the week under the ways and means advances (WMA) during the week ended April 15, way above the Rs 30,000-crore limit set until the third week of April. Borrowings within the limit are at the prevailing repo rate while those above the agreed limit are 2% higher than the repo rate.

Tag: forex reserves

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