The fall was seen after rising in the week ending July 29 after falling for four consecutive weeks earlier. Read more
Mumbai: India’s foreign exchange reserves fell by $897 million to $572.978 billion in the week ended August 5, according to the Reserve Bank of India’s (RBI) weekly statistical bulletin supplement.
The fall was seen after rising in the week ending July 29 after falling for four consecutive weeks earlier.
The fall this week was due to a drop in foreign currency assets from $1.611 billion to $509.646 billion.
Foreign currency assets
Foreign Currency Assets (FCA) which constitute the largest component of the RBI’s foreign exchange reserve are the assets such as US Treasury Bills purchased by the RBI using foreign currencies.
The FCA is the largest component of the foreign exchange reserve.
Meanwhile, however, gold reserves increased by $671 million to $40.313 billion in the week ended August 5.
Special Drawing Rights (SDRs) increased by $46 million to $18.031 billion.
The country’s reserve position with the IMF fell by $3 million to $4.987 billion in the reporting week, the data showed.
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