Forex reserves decline $2.10 billion to $619.365 billion
The forex kitty had increased by $889 million to a lifetime high of $621.464 billion in the previous reporting week
India’s foreign exchange reserves decreased by $2.099 billion to stand at $619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday.
The forex kitty had increased by $889 million to a lifetime high of $621.464 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.358 billion to $576.374 billion in the reporting week, as per the weekly data by the Reserve Bank of India (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.
Value of the gold reserves declined for the second consecutive week, dropping $720 million to $36.336 billion, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $7 million to $1.544 billion. The country’s reserve position with the IMF also fell by $14 million to $5.111 billion, as per the data.