Forex Reserve: India’s foreign exchange reserves down $3.71 billion to 701.176 billion, figures released

New Delhi| India’s foreign exchange reserves declined by $3.709 billion to $701.176 billion during the week ending October 4. RBI released data related to this on Friday.

In the previous week under review, foreign exchange reserves had risen by $12.588 billion to an all-time high of $704.885 billion. During the week ending Oct. 4, foreign currency assets (FCAs), a key component of foreign exchange reserves, declined by $3.511 billion to $612.643 billion, according to data released Friday.

Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves. Gold reserves declined by $40 million to $65.756 billion during the week, the RBI said. The central bank reported that special drawing rights (SDRs) decreased by US$ 123 million to US$ 18.425 billion. India’s reserve position with the IMF declined by US$35 million to US$4.352 billion during the week under review, according to Reserve Bank of India data.