India’s foreign exchange reserves dip $2.34 bn to $590.7 bn
Reserve Bank of India (RBI) showed on Friday.
Previously, forex reserves decreased by $867 million to $593.04 billion for the week ended on September 15.
According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $2.55 billion to $523.40 billion. Expressed in dollar terms, the FCAs 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 $307 million to $44.31 billion, while SDRs were down by $79 million to $18.01 billion.
Reserve position in the IMF decreased by $11 million to $5.02 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.
