Forex reserves decline USD 2.10 bn to USD 619.365 bn

Mumbai: India’s foreign exchange reserves decreased by USD 2.099 billion to stand at USD 619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday.

The forex kitty had increased by USD 889 million to a lifetime high of USD 621.464 billion in the previous reporting week.

Foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 1.358 billion to USD 576.374 billion in the reporting week, as per the weekly data by the Reserve Bank of India (RBI).   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.   

Value of the gold reserves declined for the second consecutive week, dropping USD 720 million to USD 36.336 billion, the data showed.    The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 7 million to USD 1.544 billion.   The country’s reserve position with the IMF also fell by USD 14 million to USD 5.111 billion, as per the data.