India's forex reserves decline by over $997 mn

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India's forex reserves decline by over $997 mn

October 03, 2021
Updated: 03:49 am

India's forex reserves decline by over $997 mn

Mumbai, Oct 1 : India's foreign exchange reserves fell by $997 million during the week ended September 24. The Reserve Bank of India's (RBI) forex reserves declined to $638.646 billion from $639.642 billion reported for the week ended September 17. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.255 billion to $576.731 billion. However, the value of the country's gold reserves rose by $327 million to $37.430 billion. The SDR value fell by $55 million to $19.379 billion. In addition, the country's reserve position with the IMF inched lower by $13 million to $5.106 billion. /IANS

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