Foreign exchange reserves dropped for the second consecutive fortnight to $247.292 billion, from 249.278 billion a week earlier, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Friday.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen, the central bank said.
However, annual money supply growth touched 19.6%. The government has continued to emphasize on ways and means advances (WMA) to meet its revenue mismatches, reflecting weakening of government finances.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen, the central bank said.
However, annual money supply growth touched 19.6%. The government has continued to emphasize on ways and means advances (WMA) to meet its revenue mismatches, reflecting weakening of government finances.
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