October 21, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Forex reserves down by $997 million to $638.646 billion

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Forex reserves down by 7 million to 8.646 billion
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Forex reserves down by 7 million to 8.646 billion
Forex reserves down by 7 million to 8.646 billion

MUMBAI: The country’s foreign exchange reserves declined by $997 million to reach $638.646 billion in the week ended September 24, RBI data showed on Friday.
In the previous week ended September 17, 2021, the reserves had tumbled by $1.47 billion to $639.642 billion. The forex kitty had surged by $8.895 billion to a lifetime high of $642.453 billion in the week ended September 3, 2021.
During the reporting week ended September 24, 2021, the dip in reserves was on account of a fall in the foreign currency assets (FCAs), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).
FCAs declined by $1.255 billion to $576.731 billion, 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.
Gold reserves were up by $327 million to $37.43 billion in the reporting week.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $55 million to $19.379 billion.
The country’s reserve position with the IMF also decreased by USD 13 million to USD 5.106 billion, as per the data.

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