India’s forex reserves dropped by $ 396 million to $ 702.57 billion for the week ended September 19, according to the RBI data. In the previous reporting week, the overall reserves had jumped by USD 4.698 billion to $ 702.966 billion.
Foreign currency assets drop $864 mn to $586.15 bn
For the week ended September 19, foreign currency assets, a major component of the reserves, decreased by $ 864 million to $ 586.15 billion, the data released on Friday showed.
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.The gold reserves increased by $360 million to $92.779 billion during the week, the RBI said.
India’s SDRs increase to $18.879 bn; IMF reserves edge up
The Special Drawing Rights (SDRs) were up by $105 million to $18.879 billion, the apex bank said.India’s reserve position with the IMF was also up by $2 million at $ 4.762 billion in the reporting week, the data showed.