Foreign exchange reserves down $ 1.47 billion to $ 639.64 billion

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The country’s foreign exchange reserves declined $ 1.47 billion to $ 639.642 billion in the week ending September 17, according to RBI data on Friday.

During the previous week ended September 10, 2021, reserves had declined by $ 1.34 billion to $ 641.113 billion. Reserves had jumped $ 8.895 billion to a lifetime high of $ 642.453 billion in the week ended September 3, 2021.

In the reporting week ended September 17, 2021, the decline in the currency kitty was primarily due to a decline in Foreign Currency Assets (FCA), a major component of global reserves.

The FCAs fell from $ 892 million to $ 577.986 billion, according to weekly data from the Reserve Bank of India (RBI).

Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves.

Gold reserves fell by $ 567 million to $ 37.103 billion in the week of the report, the data showed.

Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) decreased from $ 4 million to $ 19.434 billion.

The country’s reserve position with the IMF also declined by $ 8 million to $ 5.119 billion during the week of the report, the data showed.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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