India’s forex reserves kitty fell short of US$ 276 million to settle at US$ 699.96 billion during the week that ended on October 3, as per data shared by the Reserve Bank of India (RBI).
For the same week, foreign currency assets, which are a major component of the reserves, decreased by US$ 4.049 billion to US$ 577.708 billion, the data, which was released on Friday, showed.
In the previous reporting week, India’s forex reserves had dropped by US$ 2.334 billion to US$ 700.236 billion.
Also Read: India’s forex reserves cross USD 700 bn-mark
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 of India.
The RBI also said the value of gold reserves had increased by US$ 3.753 billion to US$ 98.77 billion during the week.
Meanwhile, the Special Drawing Rights (SDRs) were up by US$ 25 million to US$ 18.814 billion, the apex bank said.
India’s reserve position with the International Monetary Fund has declined by US$ 4 million to US$ 4.6669 billion in the reporting week, RBI data further revealed.
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