Rediff.com  » Business » Forex reserves drop $4.85 bn to $532.66 bn

Forex reserves drop $4.85 bn to $532.66 bn

Source: PTI
October 07, 2022 21:41 IST
Get Rediff News in your Inbox:

India's forex reserves dropped by $4.85 billion to $532.66 billion as on September 30, the Reserve Bank said on Friday.

Rupee

Photograph: Dado Ruvic/Reuters

The reserves, which have been dipping as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments, had declined by over $8.13 billion to $537.52 billion in the previous reporting week.

 

In October 2021, the country's forex kitty had reached an all-time high of $645 billion.

The drop in the reserves for the week ended September 30 was on account of a dip in the Foreign Currency Assets (FCAs), a major component of the overall reserves, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI) on Friday.

The FCAs dropped by $4.406 billion to $472.81 billion during the reporting week, the apex bank said.

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

The value of the gold reserves decreased by $281 million to $37.605 billion, the data showed.

The Special Drawing Rights (SDRs) dropped by $167 million to $17.427 billion, the RBI said.

The country's reserve position with the IMF was unchanged at $4.83 billion in the reporting week, the apex bank data showed.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2022 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!