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India's foreign exchange reserves dip by $2.4 billion in the week ending August 4
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foreign exchange reserves dipped by $2.4 billion in the week ending August 4, in sync with dollar outflows as cautious overseas investors offloaded their investments in local equity market. The reserves stood at $601.5 billion at the end of the reporting period, Reserve Bank of India data showed.
Foreign currency assets dipped by $1.94 billion to $533.4 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US currencies like the euro, pound and yen.
The central bank does not give reasons behind the rise and fall in forex reserves. Reserves held in gold fell $224 million to $44.7 billion.
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