Mumbai: India’s foreign exchange reserves declined by USD 1.45 billion during the week ended August 23, official data showed Friday.
According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves declined to USD 429.05 billion from USD 430.50 billion reported for the week ended August 16.
India’s forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India’s reserve position with the International Monetary Fund (IMF).
On a weekly basis, FCAs – the largest component of the forex reserves – edged lower by USD 1.198 billion to USD 397.12 billion.
Besides the US dollar, FCAs consist of 20-30 per cent of the other major global currencies.
The RBI’s weekly data showed that the value of the country’s gold reserves went down by USD 243.2 million to USD 26.86 billion.
Additionally, the SDR value fell by USD 4.5 million to USD 1.43 billion, while the country’s reserve position with the IMF decreased by USD 4.2 million to USD 3.62 billion.
IANS
