Foreign exchange reserves fell by $1.12 billion to $276.26 billion in the week following September 27 as foreign currency assets fell sharply, the Reserve Bank of India (RBI) said on Friday.
The reserves had jumped $2.03 billion to $277.38 billion in the previous week. Foreign currency assets declined by $1.29 billion to $247.924 billion for the week under review, RBI data showed. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.
The gold reserves remained unchanged at $21.724 billion for the fourth week in a row, according to RBI data. The special drawing rights rose by $1.1 million to $4.43 billion, while the country's reserve position in the International Monetary Fund rose by $177.7 million to $2.19 billion, the RBI data showed.
