: Forex reserves down #FinanceIndia #StockMarketNEWS #Business Press Trust of India Mumbai The country’s foreign exchange reserves declined by .234 billion to stand at $ 550.871 billion for

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Posted in: #FinanceIndia #StockMarketNEWS #Business

Forex reserves down #FinanceIndia #StockMarketNEWS #Business
Press Trust of India

Mumbai

The country’s foreign exchange reserves declined by .234 billion to stand at $ 550.871 billion for the week ended September 9, the Reserve Bank of India (RBI) saidon Friday.

In the previous reporting week, the reserves had dropped by .941 billion to 3.105 billion.

The fall in the reserves during the reporting week was on account of a dip in the foreign currency assets (FCAs), a major component of the overall reserves, according to the Weekly Statistical Supplement released by the RBI.

The FCAs decreased by .519 billion to 9.598 billion in the reporting week.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-U.S. units like the euro, pound and yen held in the foreign exchange reserves.

The value of the gold reserves increased by 0 million to .644 billion, the data showed.

The Special Drawing Rights (SDRs) dropped by million to .719 billion.

The country’s reserve position with the IMF was up by million to .91 billion in the reporting week, as per the data.

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