Foreign exchange reserves down $ 1.47 billion to $ 639.64 billion, Auto News, ET Auto
The country’s foreign exchange reserves declined $ 1.47 billion to $ 639.642 billion in the week ending September 17, according to RBI data on Friday. During the previous week ended September 10, 2021, reserves had declined by $ 1.34 billion to $ 641.113 billion. Reserves had jumped $ 8.895 billion to a lifetime high of $ 642.453 billion in the week ended September 3, 2021.
In the reporting week ended September 17, 2021, the decline in the currency kitty was primarily due to a decline in Foreign Currency Assets (FCA), a major component of global reserves. The FCAs fell from $ 892 million to $ 577.986 billion, according to weekly data from the Reserve Bank of India (RBI).
Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves. Gold reserves fell by $ 567 million to $ 37.103 billion in the week of the report, the data showed.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) decreased by $ 4 million to $ 19.434 billion. The country’s reserve position with the IMF also declined by $ 8 million to $ 5.119 billion during the week of the report, the data showed.
Read also :