India’s foreign exchange reserves down $311m to $603.7bn

The country’s foreign exchange reserves fell by $311 million to $603.694 billion in the week ending April 15, RBI data showed on Friday.

In the previous week ending April 8, reserves had declined by $2.471 billion to $604.004 billion.

During the reporting week, the fall in the forex pool was due to a decline in foreign currency assets (FCA), a major component of overall reserves, according to weekly data from the Reserve Bank of India (RBI).

FCAs fell from $877 million to $536.768 billion.

Expressed in dollars, foreign currency holdings include the effect of the appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.

Gold reserves rose by $626 billion to $43.145 billion in the reporting week, the data showed.

Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) fell by $44 million to $18.694 billion.

The country’s reserve position with the IMF decreased by $16 million to $5.086 billion in the reporting week.

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