Finance
The country’s foreign exchange reserves fell by USD 2.234 billion for the week ending September 9, falling to USD 550.871 billion, according to the Reserve Bank of India (RBI) on Friday.
The reserves had fallen by USD 7.941 billion to USD 553.105 billion in the previous reporting week.
According to the RBI’s Weekly Statistical Supplement, the drop in reserves during the reporting week was due to a drop in foreign currency assets (FCAs), a major component of overall reserves.
In the reporting week, FCAs fell by USD 2.519 billion to USD 489.598 billion.
Foreign currency assets, expressed in dollars, include the effect of non-US currency appreciation or depreciation, such as the euro, pound, and yen held in the foreign exchange reserves.
According to the data, the value of gold reserves increased by USD 340 million to USD 38.644 billion.
SDRs (Special Drawing Rights) fell by USD 63 million to USD 17.719 billion.
According to the data, the country’s reserve position with the IMF increased by USD 8 million in the reporting week to USD 4.91 billion.
Source:BS
