India's forex reserve drop by $2.40 b

India's forex reserve drop by $2.40 b

The reserves had risen by USD 2.69 billion to $312.90 billion in the previous reporting week. FCAs, the largest component of the total reserves, dropped by $2.397 billion to $278.511 billion for the week ended June 10, the Reserve Bank said in its weekly data released today.

FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, it said.

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