India’s forex reserves dropped by $2.18 billion to $697.79 billion during the week ended October 10, according to the Reserve Bank data released on Friday.
Illustration: Dado Ruvic/Reuters
In the previous reporting week, the overall kitty had decreased by $276 million to $699.96 billion.
For the week ended October 10, foreign currency assets, a major component of the reserves, decreased by $5.61 billion to $572.10 billion, the data showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Value of the gold reserves jumped by $3.6 billion to $102.37 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down by $130 million to $18.68 billion, the apex bank data said.
India’s reserve position with the IMF was also down by $36 million at $4.63 billion in the reporting week, it showed.
