During the week ended February 6, foreign currency assets, a major component of the reserves, increased by $7.66 billion to $570 billion.
Illustration: Dado Ruvic/Reuters
Key Points
- Value of the gold reserves dropped by $14.21 billion
- Special Drawing Rights were down by $132 million
- India’s reserve position with the IMF was also down
India’s forex reserves dropped by $6.71 billion to $717 billion during the week ended February 6, the RBI said on Friday.
In the previous reporting week, the kitty had jumped by $14.36 billion to an all-time high of $723.77 billion.
During the week ended February 6, foreign currency assets, a major component of the reserves, increased by $7.66 billion to $570 billion, the data released by the central bank showed.
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.
Value of the gold reserves dropped by $14.21 billion to $123.48 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $132 million to $18.82 billion, the apex bank said.
India’s reserve position with the IMF was also down by $32 million to $4.715 billion in the reporting week, according to the apex bank’s data.
