Source: The Hindu Businessline

Mumbai, May 24

India’s foreign exchange reserves dropped $1.72 billion to $291.96 billion in the week ended May 17. The country’s forex reserves were down because of a fall of $1.68 billion in foreign currency assets in the reporting week. There was no change in the country’s gold reserves at $23.97 billion from the previous reporting week. Special drawing rights and reserve position in International Monetary Fund fell $24 million and $12.6 million respectively. In the previous reporting week ended May 10, forex reserves had fallen by $616.4 million to $293.69 billion. (Source: The Hindu Businessline)