India's forex reserves dip $5 billion amid depreciating rupee

New Delhi, July 9: India's foreign exchange reserves declined by $5 billion to $588.314 billion during the week that ended on July 1, the Reserve Bank of India's weekly data showed.

Also Read| Setback from HC; Chandigarh’s St Kabir School loses minority status quota

In the preceding week, the reserves had risen by $2.734 billion to $593.323 billion after a three consecutive week of fall. According to the RBI's data, India's foreign currency assets, which are the biggest component of the forex reserves, declined by $4.47 billion to $524.745 billion during the latest week. Further, gold reserves fell by $504 million to $40.422 billion, special drawing rights fell by $77 million to $18.133 billion, while the country's reserve position with the International Monetary Fund rose by $44 million to $5.01 billion. The country's forex reserves had dropped for four out of fifth straight weeks, on account of RBI's likely intervention in the market to defend the depreciating rupee, which is persistently at an all-time low. Typically, the RBI intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee. -PTC News

India's forex reserves dip $5 billion amid depreciating rupee

Also Read

ICC likely to propose hybrid mode for champions trophy, calls meeting on November 29

'Not our culture': Ashwini Vaishnaw calls for laws to check vulgar content on social media

Top News view more...

AAP MP Kang writes to Lok Sabha secretary general, seeks Presidential assent to Punjab's anti-sacrilege Bills

Farmer leader Dallewal detained before indefinite fast; farmers to march to Delhi on Dec 6

Blast outside rapper Badshah’s bar in Chandigarh; CCTV shows man hurling bomb at club

Low intensity explosion outside Chandigarh bar owned by rapper Badshah

Sanyukt Kisan Morcha (Non-Political) leader Jagjit Singh Dallewal detained at Khanauri border ahead of hunger strike

Sugarcane price hike: Punjab govt increases cane SAP by Rs 10; check revised rates

Latest News view more...

5 Doctors Die in Accident : ਡਰਾਈਵਰ ਦੀ ਨੀਂਦ ਦੀ ਝਪਕੀ ਬਣੀ ਡਾਕਟਰਾਂ ਲਈ 'ਕਾਲ', ਡਿਵਾਈਡਰ ਤੋੜ ਕਾਰ ਦੀ ਟਰੱਕ ਨਾਲ ਟੱਕਰ; 5 ਡਾਕਟਰਾਂ ਦੀ ਮੌਤ

Adani Group: ਦੋਸ਼ਾਂ 'ਤੇ ਅਡਾਨੀ ਗਰੁੱਪ ਦੇ ਸਪੱਸ਼ਟੀਕਰਨ ਤੋਂ ਬਾਅਦ ਸ਼ੇਅਰ 10% ਵਧੇ

Jalandhar Encounter News : ਪੰਜਾਬ ਪੁਲਿਸ ਅਤੇ ਲਾਰੈਂਸ ਗੈਂਗ ਦੇ ਮੈਂਬਰਾਂ ਵਿਚਾਲੇ ਚੱਲੀਆਂ ਗੋਲੀਆਂ; 2 ਬਦਮਾਸ਼ਾਂ ਨੂੰ ਲੱਗੀ ਗੋਲੀ; ਕਈ ਹਥਿਆਰ ਬਰਾਮਦ

Dense Fog Alert In Punjab : ਪੰਜਾਬ-ਚੰਡੀਗੜ੍ਹ 'ਚ 3 ਦਿਨਾਂ ਲਈ ਸੰਘਣੀ ਧੁੰਦ ਦਾ ਅਲਰਟ ਜਾਰੀ, ਮੌਸਮ ਵਿਭਾਗ ਵੱਲੋਂ ਮੀਂਹ ਨੂੰ ਲੈ ਕੇ ਤਾਜ਼ਾ ਅਪਡੇਟ

Punjab Girls Selected For IAF : ਪੰਜਾਬ ਦੀਆਂ 2 ਧੀਆਂ ਦੀ Indian Air Force ’ਚ ਹੋਈ ਚੋਣ, ਇਸ ਦਿਨ ਤੋਂ ਟ੍ਰੇਨਿੰਗ ਹੋਵੇਗੀ ਸ਼ੁਰੂ

Jalandhar School Girl : 14 ਸਾਲਾਂ ਨਾਬਾਲਿਗ ਵਿਦਿਆਰਥਣ ਨੇ ਚੁੱਕਿਆ ਇਹ ਖੌਫਨਾਕ ਕਦਮ, ਹੋਈ ਦਰਦਨਾਕ ਮੌਤ

PTC News is dedicated to the soul and heritage of Punjab offering authentic updates on current events, news, happenings and people that are of interest to Punjabis all over.

Jaishankar, Wang Yi discuss resuming India-China direct flights, Kailash Mansarovar Yatra

Dehradun accident: From party to torn sunroof, night out turns fatal for six students, no legal discourse yet

Delhi vegetable market vendors directed to display names, numbers on carts

Voting for first phase Jharkhand assembly elections, Wayanad parliamentary bypolls underway