Forex Reserves Slide To $601 Billion

After rising for two consecutive weeks, the country's foreign exchange reserves declined by $306 million to $601.057 billion in the week ended June 3

After rising for two consecutive weeks, the country's foreign exchange reserves declined by $306 million to $601.057 billion in the week ended June 3, according to RBI data.

In the previous week, the reserves had increased by $3.854 billion to $601.363 billion. It had risen by $4.23 billion to $597.509 billion in the week ended May 20.

During the week ended June 3, the decline in the reserves was on account of a fall in Foreign Currency Assets (FCA), a major component of the overall reserves.

FCA declined by $208 million to $536.779 billion in the reporting week, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI) on Friday.