Banking

Forex reserves down $273.8 m

India’s foreign exchange reserves fell by $273.8 million in the week ended May 30 to $312.38 billion. Foreign currency assets, which form a bulk of the forex reserves, decreased by $269.3 million to $285.29 billion. Gold reserves remained unchanged at $20.96 billion. Special Drawing Rights and the country’s reserve position in the International Monetary Fund dropped by $3.3 million and $1.2 million, respectively. Our Bureau