New Delhi: The foreign exchange reserves of India fell to over a two-year low in the week ending October 14. The weekly statistical supplement data released by Reserve Bank of India (RBI) revealed this.
The forex reserves fell $4.5 billion to $528.367 billion, from $532.868 billion in the week prior. The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). FCA is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves.
FCAs declined by $2.828 billion to $468.668 billion. Gold reserves declined by $1.502 billion in the value to $37.453 billion. The Special Drawing Rights (SDRs) were down by $149 million to $17.433 billion. The country’s reserve position with the IMF were down by $23 million to $4.813 billion.