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Forex reserves slip on slump in currency assets, down $1.4 bn

During the reporting week ended September 17, 2021, the drop in the forex kitty was mainly on account of a decline in the foreign currency assets (FCAs), a major component of the overall reserves.

By: ENS Economic Bureau | New Delhi |
September 26, 2021 3:01:00 am
Gold reserves were down by $567 million to $37.103 billion in the reporting week, as per the data.

The country’s foreign exchange reserves declined by $1.47 billion to $639.642 billion in the week ended September 17, RBI data showed on Friday. In the previous week ended September 10, the reserves had dipped by $1.34 billion to $641.113 billion.

During the reporting week ended September 17, 2021, the drop in the forex kitty was mainly on account of a decline in the foreign currency assets (FCAs), a major component of the overall reserves. FCAs slumped by $892 million to $577.986 billion, weekly data by the Reserve Bank of India (RBI) showed.

Gold reserves were down by $567 million to $37.103 billion in the reporting week, as per the data. The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $4 million to $19.434 billion.

The country’s reserve position with the IMF also decreased by $8 million to $5.119 billion in the reporting week, the data showed.

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