The country’s foreign exchange reserves fell $ 1.169 billion to $ 637.477 billion in the week ended October 1, according to RBI data on Friday. During the previous week ended September 24, 2021, reserves had declined by $ 997 million to $ 638.646 billion. Reserves had jumped $ 8.895 billion to a lifetime high of $ 642.453 billion in the week ended September 3, 2021.
In the reporting week ended October 1, 2021, the decline in the forex prize pool was due to a decline in Foreign Currency Assets (FCA), a major component of global reserves.
The FCAs fell $ 1.28 billion to $ 575.451 billion, according to weekly data from the Reserve Bank of India (RBI).
Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves.
Gold reserves rose $ 128 million to $ 37.558 billion in the week of the report, the data showed.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) decreased by $ 138 million to $ 19.24 billion.
The country’s reserve position with the IMF increased by $ 122 million to $ 5.228 billion.
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