Forex reserves fall by $1.82 billion to $401 billion

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Mumbai | Published: August 18, 2018 12:31:40 AM

India’s foreign exchange reserves further fell by $1.82 billion to $400.881 billion as on August 10, data from the Reserve Bank of India (RBI) show.

Forex reserves fall by .82 billion to 1 billion (Reuters)

India’s foreign exchange reserves further fell by $1.82 billion to $400.881 billion as on August 10, data from the Reserve Bank of India (RBI) show. Foreign currency assets (FCA), which form a key component of reserves, fell by $1.94 billion from the previous week to $376.265 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. Gold reserves rose by $145.6 million to $20.691 billion. Special drawing rights (SDR) from the IMF fell by $9.2 million from the previous week to $1.466 billion.

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