FOREX reserves down USD 3.2 Billion to 600.4 bn

According to Reserve bank of India (RBI) data, the country's foreign exchange (FOREX) reserves fell by USD 3.271 billion to USD 600.423 billion in the week ending April 22. The reserves fell by USD 311 million to USD 603.694 billion the previous week.

The  RBI weekly data released on Friday it indicates that, the fall in reserves was due to a decline in Foreign Currency Assets (FCA), a major component of overall reserves, and gold reserves during the reporting week. As per  data, gold reserves fell by USD 377 million to USD 42.768 billion in the reporting period. The International Monetary Fund's (IMF) Special Drawing Rights (SDRs) fell by USD 33 million to USD 18.662 billion, according to the RBI.

In the week ending April 22, Foreign Currency Assets fell by USD 2.835 billion to USD 533.933 billion.

The effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, is included in the foreign currency assets when expressed in dollar terms.

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