Foreign exchange reserves fall again, dip by $ 2.4 bn

The country’s foreign exchange reserves declined by $ 2.415 billion to $ 576.869 billion in the week shown on Friday in RBI data.

In the previous week ended March 26, reserves had decreased by $ 2.986 billion to $ 579.285 billion. The foreign currency kitty touched a record level of $ 590.185 billion for the week ended 29 January.

In the week ending April 2, the decline in reserves was mainly due to a fall in foreign exchange assets.

According to RBI data, gold reserves declined by $ 884 million to $ 34.023 billion. Special drawing rights with the IMF have sunk from $ 4 million to $ 1.486 billion.