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Forex kitty slips USD 649 mn to USD 428.96 bn

Press Trust of India  |  Mumbai 

The country's foreign exchange reserves declined by USD 649 million to USD 428.96 billion in the week to September 14, mainly on account of a drop in the value of foreign currency assets and gold holdings, as per the weekly RBI data released on Friday.

In the previous reporting week, total reserves had increased by USD 1 billion to USD 429.608 billion.

The reserves had touched a life-time high of USD 430.572 billion in August.

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

During the week, value of gold reserves declined by USD 249 million to USD 27.103 billion, according to the data.

The special drawing rights with the International Monetary Fund dipped by USD 2 million to USD 1.432 billion during the week.

The country's reserve position with the Fund increased USD 11 million to USD 3.630 billion, the data showed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 20 2019. 20:55 IST