India News | Forex Reserves Down USD 3 Bn to USD 561 Bn

Mumbai, Sep 2 (PTI) The country's foreign exchange reserves declined by USD 3.007 billion to USD 561.046 billion in the week ended August 26, the Reserve Bank of India (RBI) data showed.

In the previous week ended August 19, the reserves had dipped by USD 6.687 billion to USD 564.053 billion.

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The fall in the reserves during the reporting week ended August 26 was on account of a dip in the foreign currency assets (FCA), a major component of the overall reserves, and the gold reserves, according to the Weekly Statistical Supplement released by the RBI on Friday.

FCA decreased by USD 2.571 billion to USD 498.645 billion in the reporting week.

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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 decreased by USD 271 million to USD 39.643 billion, the data showed.

The Special Drawing Rights (SDRs) dropped by USD 155 million to USD 17.832 billion.

The country's reserve position with the IMF also dipped by USD 10 million to USD 4.926 billion in the reporting week, the data showed.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)