<p>India&rsquo;s forex reserves dropped by USD 2.027 billion to USD 646.673 billion for the week ended May 24, the <a href="https://www.mid-day.com/search/reserve-bank-of-india-articles" target="_blank" rel="nofollow noopener">Reserve Bank</a> said on Friday.</p>
<p>In the previous reporting week, the kitty had reached an all-time high of USD 648.7 billion after a jump of USD 4.549 billion.</p>
<p>For the week ended May 24, foreign currency assets, a major component of the reserves, decreased by USD 1.51 billion to USD 567.499 billion, the data released on Friday showed.</p>
<p>Expressed in dollar terms, the <a href="https://www.mid-day.com/news/india-news/article/rbi-imposes-monetary-penalty-on-satara-sahakari-bank-limited-23347282" target="_blank" rel="nofollow noopener">foreign currency assets</a> 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>Gold reserves decreased by USD 482 million to USD 56.713 billion during the week. The Special Drawing Rights (SDRs) were down by USD 33 million to USD 18.135 billion.</p>
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In the previous reporting week, the kitty had reached an all-time high of USD 648.7 billion after a jump of USD 4.549 billion

Forex reserves plunge by USD 2 billion, gold reserves take a hit

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Forex reserves plunge by USD 2 billion, gold reserves take a hit

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