Home » Business » Forex Reserves Fall $3 Billion to $561 Billion; Gold Reserves Decrease By $271 Million

Forex Reserves Fall $3 Billion to $561 Billion; Gold Reserves Decrease By $271 Million

The fall in the reserves during the reporting week ended August 26 was on account of a dip in the foreign currency assets

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PTI

Last Updated: September 02, 2022, 19:22 IST

New Delhi, India

In the previous week ended August 19, the reserves had dipped by $6.687 billion to $564.053 billion. (Photo: Reuters)
In the previous week ended August 19, the reserves had dipped by $6.687 billion to $564.053 billion. (Photo: Reuters)

The country’s foreign exchange reserves declined by $3.007 billion to $561.046 billion in the week ended August 26, the Reserve Bank of India (RBI) data showed. In the previous week ended August 19, the reserves had dipped by $6.687 billion to $564.053 billion.

The fall in the reserves during the reporting week ended August 26 was on account of a dip in the foreign currency assets (FCA), a major component of the overall reserves, and the gold reserves, according to the Weekly Statistical Supplement released by the RBI on Friday. FCA decreased by $2.571 billion to $498.645 billion in the reporting week.

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 decreased by $271 million to $39.643 billion, the data showed.

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The Special Drawing Rights (SDRs) dropped by $155 million to $17.832 billion. The country’s reserve position with the IMF also dipped by $10 million to $4.926 billion in the reporting week, the data showed.

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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)

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first published: September 02, 2022, 19:12 IST
last updated: September 02, 2022, 19:22 IST