<p>Mumbai: India's forex reserves dropped by Rs 10,603 crore ($1.237 billion) to Rs 59,27,170 crore ($691.485 billion) for the week ended May 30, the RBI said on Friday.</p>.<p>The overall reserves had jumped by Rs 59,942 crore ($6.992 billion) to Rs 59,39,414 crore ($692.721 billion) in the previous reporting week. The forex reserves had touched an all-time high of Rs 60,43,708 crore ($704.885 billion) in end-September 2024.</p>.<p>Earlier in the day, RBI Governor Sanjay Malhotra said that at Rs 59,28,945 crore ($691.5 billion), the reserves are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding.</p>.<p>For the week ended May 30, foreign currency assets, a major component of the reserves, decreased by Rs 16 crore ($1.952 million) to Rs 50,09,028 crore ($584.215 billion), the data released on Friday showed.</p>.Karnataka govt likely to reserve land for EV charging infra.<p>Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.</p>.<p>The gold reserves increased by $6,199 crore ($723 million) to Rs 7,22,860 crore ($84.305 billion) during the week, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by Rs 17 crore ($2 million) to Rs 1,59,214 crore ($18.569 billion), the apex bank said.</p>.<p>India's reserve position with the IMF was also down by Rs 51 crore ($6 million) at Rs 37,678 crore ($4.395 billion) in the reporting week, the apex bank data showed. </p>
<p>Mumbai: India's forex reserves dropped by Rs 10,603 crore ($1.237 billion) to Rs 59,27,170 crore ($691.485 billion) for the week ended May 30, the RBI said on Friday.</p>.<p>The overall reserves had jumped by Rs 59,942 crore ($6.992 billion) to Rs 59,39,414 crore ($692.721 billion) in the previous reporting week. The forex reserves had touched an all-time high of Rs 60,43,708 crore ($704.885 billion) in end-September 2024.</p>.<p>Earlier in the day, RBI Governor Sanjay Malhotra said that at Rs 59,28,945 crore ($691.5 billion), the reserves are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding.</p>.<p>For the week ended May 30, foreign currency assets, a major component of the reserves, decreased by Rs 16 crore ($1.952 million) to Rs 50,09,028 crore ($584.215 billion), the data released on Friday showed.</p>.Karnataka govt likely to reserve land for EV charging infra.<p>Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.</p>.<p>The gold reserves increased by $6,199 crore ($723 million) to Rs 7,22,860 crore ($84.305 billion) during the week, the RBI said.</p>.<p>The Special Drawing Rights (SDRs) were down by Rs 17 crore ($2 million) to Rs 1,59,214 crore ($18.569 billion), the apex bank said.</p>.<p>India's reserve position with the IMF was also down by Rs 51 crore ($6 million) at Rs 37,678 crore ($4.395 billion) in the reporting week, the apex bank data showed. </p>