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India's forex reserves decline by $908 million to $640.1 billion

In the reporting week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), a major component of the overall reserves, and in the gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

October 29, 2021 / 07:42 PM IST
Representative image

Representative image

The country's foreign exchange reserves declined by $908 million to $640.1 billion in the week ended October 22, RBI data showed.

In the previous week ended October 15, the reserves had increased by $1.492 billion to $641.008 billion. The reserves had touched a lifetime high of $642.453 billion in the week ended September 3, 2021.

In the reporting week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), a major component of the overall reserves, and in the gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA declined by $853 million to $577.098 billion in the reporting week, the data showed.

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.

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Gold reserves were down by $138 million to $38.441 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $74 million to $19.321 billion.

The country's reserve position with the IMF increased by $10 million to $5.240 billion in the reporting week, the data showed.



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PTI
first published: Oct 29, 2021 07:42 pm
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