Mumbai (Maharashtra) [India], September 3 (ANI): India’s international change (foreign exchange) reserves fell by $3.007 billion to $561.046 billion for the week ended August 26 dragged by a stoop in international forex belongings, the Reserve Bank of India (RBI) information confirmed.
This is the fourth weekly fall within the nation’s foreign exchange reserves. India’s foreign exchange reserves had slumped by $6.687 billion within the week ended August 19. The nation’s international change reserves have declined sharply in current months because the RBI continues to intervene within the forex markets to defend the rupee.
As per the Reserve Bank of India’s weekly statistical complement, international forex belongings, that are the most important element of the foreign exchange reserves, dropped by $2.571 billion to $498.645 billion through the week ended August 26. The international forex belongings had declined by $5.779 billion through the week ended August 19.
Expressed in US dollar phrases, the international forex belongings embody the impact of appreciation or depreciation of non-dollar currencies like Euro, UK’s Pound Sterling and Japanese Yen held within the international change reserves.
All parts of the foreign exchange reserves declined through the week beneath assessment. The worth of gold reserves fell by $271 million to $39.643 billion through the week ended August 26.
The worth of India’s Special Drawing Rights (SDRs) with the International Monetary Fund declined by $155 million to $17.832 billion through the week beneath assessment, the RBI information confirmed.
India’s reserve place within the International Monetary Fund (IMF) declined by $10 million to $4.926 billion through the week ended August 26, as per the RBI Weekly Statistical Supplement. (ANI)