India’s forex reserves drop by $375.80 m to $399.92 bn

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Mumbai | Published: October 28, 2017 3:42:10 AM

India's forex exchange reserves dropped by $375.80 million as on October 20 to $399.921 billion, data from the RBI shows. Foreign currency assets (FCA), which form a key component of reserves, fell by $365.90 million from the previous week to $374.908 billion.

india forex reserves, foreign exchnage reserve, FCA, Special drawing rights, RBI, gold reserves, US dollarFCAs are maintained in major currencies like US dollar, euro, pound sterling, Japanese yen etc. (Reuters)

India’s forex exchange reserves dropped by $375.80 million as on October 20 to $399.921 billion, data from the RBI shows. Foreign currency assets (FCA), which form a key component of reserves, fell by $365.90 million from the previous week to $374.908 billion. FCAs are maintained in major currencies like US dollar, euro, pound sterling, Japanese yen etc. Movement in the FCA occur mainly on account of purchase and 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 remained stable at $21.24 billion. Special drawing rights (SDR) from the International Monetary Fund fell by $4 million from the previous week to $1.49 billion. SDR is an international reserve asset created by the IMF and allocated to its members in proportion of their quota at the IMF.

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