HomeBusiness NewsForex reserves down $311 million to $603.694 billion

Forex reserves down $311 million to $603.694 billion

MUMBAI: The country’s foreign exchange reserves declined by $311 million to reach $603.694 billion in the week ended April 15, RBI data showed on Friday.
In the previous week ended April 8, the reserves had declined by $2.471 billion to stand at $604.004 billion.
During the reporting week, the fall in the forex kitty was on account of a decline in the foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).
FCAs dropped by $877 million to $536.768 billion.
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 increased by $626 million to $43.145 billion in the reporting week, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $44 million to $18.694 billion.
The country’s reserve position with the IMF decreased by $16 million to $5.086 billion in the reporting week.

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