Forex reserves decline by $1.3 bn due to fall in currency assets: RBI data

India’s foreign exchange reserves declined by $1.358 billion to $422.2 billion in the week to June 14 due to fall in foreign currency assets, RBI data showed.

Foreign exchange reserves had increased by $1.686 billion to $423.554 billion in the previous reporting week.

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018.

In the reporting week, foreign currency assets, which is a major component of the overall reserves, decreased by $1.353 billion to $394.44 billion.