India’s reserve position with the IMF also fell $45 million to $4.83 billion in the reporting week.
Illustration: Dado Ruvic/Reuters
Key Points
- The value of the gold reserves declined by $1.61 billion
- SDRs were down by $146 million to $18.72 billion.
- India’s reserve position with the IMF also fell $45 million.
India’s forex reserves dropped by $11.68 billion to $716.81 billion during the week ended March 6, the RBI said on Friday.
In the previous reporting week, the overall reserves had increased by $4.88 billion to an all-time high of $728.49 billion.
For the week ended March 6, foreign currency assets, a major component of the reserves, decreased by $9.88 billion to $563.24 billion, according to data released by the central bank.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
The value of the gold reserves declined by $1.61 billion to $130.02 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $146 million to $18.72 billion.
India’s reserve position with the IMF also fell $45 million to $4.83 billion in the reporting week, according to data.
