Forex reserves dip $446 million to $429 billion

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Published: September 7, 2019 12:57:03 AM

FCAs are maintained in major currencies like US dollar, euro, pound sterling and Japanese yen.

Forex reserves, Reserve Bank of India, Foreign currency assets, US dollar,  IMFForeign currency assets (FCA), which form a key component of reserves, fell by .12 billion to 6.005 billion.

India’s foreign exchange reserves fell by $446 million in the week ended August 30 to $428.604 billion compared to the previous week, according to the Reserve Bank of India data. Foreign currency assets (FCA), which form a key component of reserves, fell by $1.12 billion to $396.005 billion. On the other hand, gold reserves rose by $682 million to $27.550 billion.

FCAs are maintained in major currencies like US dollar, euro, pound sterling and Japanese yen. Movement in the FCA occurs mainly on account of purchase or sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets. The reserve position in the IMF fell by $5 million to $3.617 billion, the central bank said.

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