Forex reserves decline by USD 2.36 bn to USD 583.53 bn
Mumbai, (PTI): India's forex reserves declined by USD 2.36 billion to USD 583.53 billion during the week ended October 20, according to the Reserve Bank of India data.
In the previous reporting week, the overall reserves had increased by USD 1.153 billion to USD 585.895 billion.
In October 2021, the country's forex kitty reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.
For the week ended October 20, the foreign currency assets, a major component of the reserves, decreased by USD 4.15 billion to USD 515.2 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were up by USD 1.85 billion to USD 45.42 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by USD 70 million to USD 17.93 billion, the apex bank said.
India's reserve position with the IMF increased by USD 6 million to USD 4.98 billion in the reporting week, the apex bank data showed.
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Two killed as bus hits motorbike
Thane (PTI): Two young men were killed and another was seriously injured when a speeding bus rammed into their motorcycle in Mumbra area of the city on Tuesday evening, police said.
The victims, all residents of Thakur Pada, were riding from Roshni Mahel toward Y Junction.
"The motorcycle was hit from behind by a bus driven by Mustafa Hussain Sheikh (58). The two-wheeler got dragged under the front wheel of the bus," said a traffic police official.
Sangam Rajesh Pulshare (21) and Avinash Ramdas Davande (19) died while Mahesh Bhagwan Vare (18) sustained serious injuries.
The bus driver was detained and a case was being registered at the Mumbra police station, said the official.
