Currency

India’s forex reserves dip to $702.57 billion for week ended Sept 19


India’s foreign exchange reserves fell by $396 million to $702.57 billion for the week ended September 19, according to Reserve Bank of India (RBI) data released on Friday.
In the previous week, reserves had risen by $4.698 billion to $702.966 billion.

Foreign currency assets, the largest component of the reserves, declined by $864 million to $586.15 billion. The figure reflects the value of non-US currency holdings such as the euro, pound, and yen, adjusted for exchange rate movements.

Gold reserves increased by $360 million to $92.779 billion, while Special Drawing Rights (SDRs) rose by $105 million to $18.879 billion. India’s reserve position with the International Monetary Fund (IMF) inched up by $2 million to $4.762 billion during the week.



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