Business Market 13 Oct 2017 Forex reserves fall ...

Forex reserves fall by $862.2 million to $398.794 billion

PTI
Published Oct 13, 2017, 5:59 pm IST
Updated Oct 13, 2017, 5:59 pm IST
In previous week, reserves had fallen by USD 2.590 billion to USD 399.656 billion.
RBI data show fall in foreign currency assets caused drop in total forex reserves. (Photo: PTI)
 RBI data show fall in foreign currency assets caused drop in total forex reserves. (Photo: PTI)

Mumbai: The country's foreign exchange reserves declined by USD 862.2 million to USD 398.794 billion in the week to October 6 due to fall in foreign currency assets, RBI data showed.

In the previous week, the reserves had fallen by USD 2.590 billion to USD 399.656 billion. It had touched a lifetime high of USD 402.509 billion in the week to September 15.

 

The foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 1.391 billion to USD 373.795 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

After remaining unchanged for past few weeks, gold reserves rose by USD 548.6 million to USD 21.240 billion.

The special drawing rights with the International Monetary Fund (IMF) declined by USD 7.9 million to USD 1.494 billion.

The country's reserve position with the IMF declined by USD 11.9 million to USD 2.264 billion, the apex bank said.

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