Continuing their downward trajectory for the third consecutive week, the country’s foreign exchange reserves declined by $2.03 billion to stand at $617.648 billion in the week ended March 25, RBI data showed on Friday.
Photograph: Kham/Reuters
In the week ended March 18, the forex kitty had declined by $2.60 billion to $619.68 billion.
It had plunged by $9.65 billion to $622.27 billion in the week ended March 11.
During the reporting week, the fall in the reserves was mainly on account of a decline in the foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India.
FCA dropped by $3.20 billion to $550.45 billion in the week ended March 25.
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.
Gold reserves increased by $1.23 billion to $43.24 billion in the reporting week, the data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $44 million to $18.82 billion.
The country’s reserve position with the IMF also decreased by $14 million to $5.13 billion.
For all the latest business News Click Here
