Forex reserves down by USD 915.8 mn to USD 399.609 bn


Mumbai:┬áThe country’s foreign exchange reserves declined by USD 915.8 million to USD 399.609 billion in the week to October 5 on account of a fall in foreign currency assets, according to RBI data.

In the previous week, the reserves had declined by USD 1.265 billion to USD 400.52 billion.

In the reporting week, foreign currency assets, a major component of the overall reserves, decreased by USD 1.011 billion to USD 375.231 billion, as per the RBI data.

Expressed in US dollar terms, foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen held in the reserves.

Forex reserves had touched a record high of USD 426.028 billion in the week to April 13, 2018, but have been declining since then.

Gold reserves rose by USD 107.3 million to USD 20.450 billion in the reporting week.

The special drawing rights with the International Monetary Fund (IMF) declined by USD 4.3 million to USD 1.466 billion.

The country’s reserve position with the IMF also dipped by USD 7.2 million to USD 2.460 billion, the apex bank said.