India’s forex reserves dropped by $14.881 billion to $765.901 billion during the week ended September 18 due to a fall in foreign currency assets, according to the Reserve Bank of India data released on Friday.
In the previous reporting week, forex reserves had fallen by $4.924 billion to $780.782 billion.
For the week ended September 18, foreign currency assets, a major component of reserves, fell by $14.816 billion to $630.980 billion, according to the data released by the Reserve Bank of India (RBI).
Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.
The value of gold reserves increased by $68 million to $111.292 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down $106 million to $18.739 billion.
India’s reserve position with the IMF stood at $4.89 billion. — PTI
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