India's Forex reserves deplete by over $734 mn
Mumbai, July 20 : India's foreign exchange (Forex) reserves depleted by $734.5 million during the week ended July 13, official data showed on Friday.
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the overall forex reserves declined to $405.08 billion from $405.81 billion reported for the week ended July 6.
India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).
Segment-wise, FCAs -- the largest component of the Forex reserves -- decreased by $789.1 million to $380 billion during the week under review.
Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.
As per the data, the value of the country's gold reserves rose by $75.4 million to $21.12 billion.
The SDRs' value inched down by $7.8 million to $1.48 billion, while the country's reserve position with the IMF slipped by $13 million to $2.48 billion.
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British military says cargo ship ablaze in Strait of Hormuz after being hit by projectile
Dubai (AP): A projectile hit a cargo ship Wednesday in the Strait of Hormuz, setting the vessel ablaze after the United States targeted Iranian minelaying vessels that could target the narrow mouth of the Persian Gulf.
The United Kingdom Maritime Trade Operations centre, run by the British military, said the vessel had been hit just north of Oman in the strait.
It said the crew was evacuating the ship.
Iran did not immediately claim the attack though it has been targeting ships in and around the strait, disrupting a waterway that sees a fifth of all oil and natural gas traded pass through it.
The UKMTO earlier reported on another attack targeting a vessel off Ras al-Khaimah in the United Arab Emirates.
