Forex reserves down USD 311 mn to USD 603.694 bn

The country’s foreign exchange reserves declined by USD 311 million to reach USD 603.694 billion in the week ended April 15, RBI data showed on Friday. In the previous week ended April 8, the reserves had declined by USD 2.471 billion to stand at USD 604.004 billion.

During the reporting week, the fall in the forex kitty was on account of a decline in the foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).

FCAs dropped by USD 877 million to USD 536.768 billion.

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 increased by USD 626 billion to USD 43.145 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 44 million to USD 18.694 billion.

The country’s reserve position with the IMF decreased by USD 16 million to USD 5.086 billion in the reporting week.

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