India's forex reserves down by USD1.45 billion

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves declined to $429.05 billion from $430.50 billion reported for the week ended August 16.

Published: 31st August 2019 12:54 PM  |   Last Updated: 31st August 2019 12:54 PM   |  A+A-

Foreign Direct Investment, money, dollar

Image for representational purpose only. (Photo | PTI)

By IANS

MUMBAI: India's foreign exchange reserves declined by $1.45 billion during the week ended August 23, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves declined to $429.05 billion from $430.50 billion reported for the week ended August 16.

India's forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs - the largest component of the forex reserves - edged lower by $1.198 billion to $397.12 billion.

Besides the US dollar, FCAs consist of 20-30 per cent of the other major global currencies.

The RBI's weekly data showed that the value of the country's gold reserves went down by $243.2 million to $26.86 billion.

Additionally, the SDR value fell by $4.5 million to $1.43 billion, while the country's reserve position with the IMF decreased by $4.2 million to $3.62 billion.
 

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp