India's forex reserves decline to 593.48 bln USD in May

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India's forex reserves decline to 593.48 bln USD in May

STORY: India's forex reserves decline to 593.48 bln USD in May DATELINE: May 28, 2023 LENGTH: 00:01:19 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. shot of India gate 2. shots of Reserve Bank of India (RBI) building 3. shots of market area STORYLINE: India's foreign exchange reserves declined by 6.05 billion U.S. dollars during the week ended May 19 to 593.48 billion U.S. dollars, showed the latest data released by the Reserve Bank of India. This situation came after three consecutive weeks seeing the forex reserves rise. In the previous week ended May 12, India's forex reserves rose by 3.55 billion U.S. dollars to reach 599.53 billion U.S. dollars, according to the country's central bank. Earlier this week Commerce and Industry Minister Piyush Goyal said India was in a "comfortable" position for the next five to six years in terms of its forex reserves. "In the worst case, with whatever difficulties anybody may have, India is comfortable for the next five or six years, given (that) o

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