India’s forex reserves down $1.19 bn

Views: 16

Mumbai, Sep 7 (IANS) India’s foreign exchange (forex) reserves declined by $1.19 billion during the week ended August 31, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves declined to $400.10 billion from $401.29 billion reported for the week ended August 24.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).

Segment-wise, FCAs — the largest component of the forex reserves — decreased by $605.1 million to $375.98 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.

Similarly, the value of the country’s gold reserves also decreased. It went down by $600.9 million to $20.16 billion.

ALSO READ:   India should legalise marijuana: Uday Chopra

As per the data, the SDRs’ value increased by $5.5 million to $1.47 billion, while the country’s reserve position with the IMF edged higher by $9.1 million to $2.47 billion.

–IANS

rv/bg

Comments: 0

Your email address will not be published. Required fields are marked with *