India's forex reserves fall for second straight week
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India’s foreign exchange reserves fell by $7.052 billion to $709.759 billion in the week ending March 13, according to data released by the Reserve Bank of India (RBI) on Friday.
This marks the second consecutive weekly decline, following a drop of $11.683 billion in the previous week, News.Az reports, citing Xinhua.
The RBI bulletin showed that Foreign Currency Assets decreased by $7.678 billion to $555.568 billion.
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In contrast, gold reserves rose by $664 million to $130.681 billion.
Meanwhile, Special Drawing Rights (SDRs) declined by $23 million to $18.697 billion, and India’s reserve position with the International Monetary Fund (IMF) slipped by $15 million to $4.814 billion.
By Nijat Babayev
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