Forex reserves down by $997 million to $638.646 billion
According to RBI figures released on Friday, Mumbai, In the week ending September 24, the country’s foreign exchange reserves fell by $997 million to $638.646 billion. The reserves fell by $1.47 billion to $639.642 billion in the week ending September 17, 2021. In the week ending September 3, 2021, the FX kitty increased by $8.895 billion to a lifetime high of $642.453 billion.
The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms.
According to weekly data from the Reserve Bank of India, the drop in reserves was due to a drop in foreign currency assets (FCAs), a major component of overall reserves, for the reporting week ended September 24, 2021. (RBI).
In the reporting week, gold reserves increased by $327 million to $37.43 billion.
The International Monetary Fund’s (IMF) special drawing rights (SDRs) fell by $55 million to $19.379 billion.