India’s forex reserves down $819.5 mn

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Mumbai, Sep 14 (IANS) India’s foreign exchange (forex) reserves declined by $819.5 million during the week ended September 7, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves declined to $399.28 billion from $400.10 billion reported for the week ended August 31.

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 $887.4 million to $375.09 billion during the week under review.

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

However, the value of the country’s gold reserves increased. It went up by $71.9 million to $20.23 billion.

As per the data, the SDRs’ value dipped by $1.5 million to $1.47 billion, while the country’s reserve position with the IMF slipped by $2.5 million to $2.47 billion.



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