Forex Reserves Fall $897 Million To $572.978 Billion

In the previous week ended July 29, the reserves had risen $2.315 billion to $573.875 billion.

Forex Reserves Fall $897 Million To $572.978 Billion

Gold reserves increased $671 million to $40.313 billion in the week ended August 5.

Mumbai:

The country's foreign exchange reserves declined $897 million to $572.978 billion in the week ended August 5, according to the Reserve Bank of India (RBI).

In the previous week ended July 29, the reserves had risen $2.315 billion to $573.875 billion.

In the week ended August 5, the fall in the foreign exchange reserves was due to a dip in the Foreign Currency Assets (FCA), a major component of the overall reserves, as per the Weekly Statistical Supplement released by RBI on Friday.

FCA declined $1.611 billion to $509.646 billion, the data showed.

Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased $671 million to $40.313 billion in the week ended August 5.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose $46 million to $18.031 billion.

The country's reserve position with the IMF declined $3 million to $4.987 billion in the reporting week, the data showed. 

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