India's forex reserves fall by $ 3.017 billion to $ 542.021 billion

India's forex reserves fall by $ 3.017 billion to $ 542.021 billion

Mumbai, October 2, 2020

India's foreign exchange reserves fell by $ 3.017 billion to $ 542.021 billion during the week ended September 25, the Reserve Bank of India (RBI) said here today.

The country's forex reserves had risen by $ 3.378 billion to $ 545.038 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 $ 1.523 billion.

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 went down by $ 1.441 billion to $ 35.999 billion while its special drawing rights (SDRs) decreased by $ 10 million to $ 1.472 billion.

The country's reserve position in the International Monetary Fund (IMF) reduced by $ 43 million to $ 4.608 billion, the bulletin added.

NNN

Related Stories

NetIndian
www.netindian.in