India's forex reserves fall by $ 2.470 billion to $ 616.895 billion
Mumbai, August 28, 2021
Going down for the second consecutive week, India's foreign exchange reserves fell by $ 2.470 billion to $ 616.895 billion during the week ended August 20, 2021, the Reserve Bank of India (RBI) said here on Friday.
The country's forex reserves had dipped by $ 2.099 billion to $ 619.365 billion during the previous week.
In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone down by $ 3.365 billion to $ 573.009 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves rose by $ 913 million to $ 37.249 billion, while its special drawing rights (SDRs) declined by $ 3 million to $ 1.541 billion.
The country's reserve position in the International Monetary Fund (IMF) went down by $ 15 million to $ 5.096 billion, the bulletin added.