Forex reserves down by $915.8 mn to $399.609 bn

The country's foreign exchange reserves declined by $915.8 million to $399.609 billion in the week to October 5 on account of a fall in foreign currency assets, according to RBI data.

In the previous week, the reserves had declined by $1.265 billion to $400.52 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, decreased by $1.011 billion to $375.231 billion, as per the RBI data.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen held in the reserves.

Forex reserves had touched a record high of $426.028 billion in the week to April 13, 2018, but have been declining since then.

Gold reserves rose by $107.3 million to $20.450 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) declined by $4.3 million to $1.466 billion.

The country's reserve position with the IMF also dipped by $7.2 million to $2.460 billion, the apex bank said.

Let's block ads! (Why?)