New Delhi: The foreign exchange reserves of India declined in the week that ended on September 24. This was revealed by the weekly statistical data released by the Reserve Bank of India.
The forex reserves of the country declined by 997 million US dollar to 638.646 billion US dollars. In the week that ended on September 17, the forex reserve was at 639.642 billion US dollar. Earlier in the week ended on September 3, the reserve touched an all-time high of 642.453 billion US dollars.
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As per the RBI, the decline in the foreign currency assets (FCAs) were the main reason for the downfall of forex reserve. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by 1.255 billion US dollar to 576.731 billion US dollar. 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.
Gold reserves were up by 327 million US dollar to 37.43 billion US dollar in the reporting week. The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by 55 million US dollar to 19.379 billion US dollar. The country’s reserve position with the IMF also decreased by 13 million US dollar to 5.106 billion US dollar.
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