Image Source : FILE PHOTO India’s forex reserves drop by $ 10.746 bn.
The RBI citing the government’s data said on Friday that India’s forex reserves dropped by $ 10.746 bn to $690.43 bn for week ending on October 11. In the previous reporting week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves had hit an all-time high of USD 704.885 billion.
For the week ending on October 11, foreign currency assets, a major component of the reserves, decreased by USD 10.542 billion to USD 602.101 billion, as 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.
Last month, India’s forex reserves jumped by USD 2.838 billion to a new all-time high of USD 692.296 billion for the week ended September 20, the RBI had said The overall kitty had increased by USD 223 million to a new high of USD 689. 458 billion for the previous reporting week.
For the week ended September 20, foreign currency assets, a major component of the reserves, increased by USD 2.057 billion to USD 605.686 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.
Gold reserves increased by USD 726 million to USD 63.613 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up by USD 121 million to USD 18.54 billion, the apex bank said.
India’s reserve position with the IMF was down by USD 66 million to USD 4.458 billion in the reporting week, the apex bank data showed.
(With inputs from PTI)
