BUSINESS

Forex reserves drop $3.017 bn to $542.021 bn

Source:PTI
October 02, 2020

Gold reserves were down by $1.441 billion in the reporting week to $35.999 billion.

After touching a lifetime high in the previous week, the country's foreign exchange reserves declined by $3.017 billion to $542.021 billion in the week ended September 25, RBI data showed on Friday.

In the week ended September 18, the reserves had increased by $3.378 billion to a record $545.038 billion.

 

During the reporting week, the decline in the forex kitty was mainly due to a fall in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs decreased by $1.523 billion to $499.941 billion, the central bank data 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 were down by $1.441 billion in the reporting week to $35.999 billion, the RBI data showed.

The special drawing rights with the International Monetary Fund (IMF) dipped by $10 million to $1.472 billion.

The country's reserve position with the IMF also fell by $43 million to $4.608 billion during the reporting week, as per the data.

Photograph: Lee Jae-Won/Reuters

Source: PTI
© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Recommended by Rediff.com

NEXT ARTICLE

NewsBusinessMoviesSportsCricketGet AheadDiscussionLabsMyPageVideosCompany Email