India's forex reserves down by $1.34 billion to $641.113 billion

After reaching a record high in the previous week, the country's foreign exchange reserves declined by $1.34 billion to $641.113 billion in the week ended September 10, 2021, according to RBI data

After reaching a record high in the previous week, the country's foreign exchange reserves declined by USD 1.34 billion to USD 641.113 billion in the week ended September 10, 2021, according to RBI data. In the previous week ended September 3, the reserves had surged by USD 8.895 billion to a life time high of USD 642.453 billion.

During the reporting week ended September 10, the fall in the reserves was on account of a decline in Foreign Currency Assets (FCAs), a major component of the overall reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCAs dipped by USD 934 million to USD 578.879 billion in the reporting week.

Expressed in dollar terms, 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 were down by USD 413 million to USD 37.669 billion in the reporting week, as per the data. The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by USD 1 million to USD 19.438 billion.

The country's reserve position with the IMF increased by USD 5 million to USD 5.127 billion in the reporting week, the data showed.