After touching a lifetime high in the previous week, the country’s foreign exchange reserves declined by $ 3.017 billion to $ 542.021 billion in the week ended September 25, RBI data showed on Friday. In the week ended September 18, the reserves had increased by $ 3.378 billion to a record $ 545.038 billion.
During the reporting week, the decline in the forex kitty was mainly due to a fall in foreign currency assets (FCAs), a major component of the overall reserves. FCAs decreased by $ 1.523 billion to $ 499.941 billion, the central bank data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down by $ 1.441 billion in the reporting week to $ 35.999 billion, the RBI data showed.
The special drawing rights with the International Monetary Fund (IMF) dipped by $ 10 million to $ 1.472 billion. The country’s reserve position with the IMF also fell by $ 43 million to $ 4.608 billion during the reporting week, as per the data.
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