Forex Reserves Down By $353 Million to $541.66 Billion: RBI Data
A man counts a bundle of U.S. one-hundred dollar bills in Turkey. (Photographer: Kerem Uzel/Bloomberg)

Forex Reserves Down By $353 Million to $541.66 Billion: RBI Data

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After touching a life-time high in the previous week, the country's foreign exchange reserves declined by $353 million to $541.660 billion in the week ended Sept. 11, according to the Reserve Bank data.

In the previous week ended Sept. 4, the reserves had increased by $582 million to a record high of $542.013 billion.

During the reporting week, the fall in reserves was due to a decline in foreign currency assets, a major component of the overall reserves. Foreign currency assets decreased by $841 million to $497.521 billion in the reporting week, the data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-U.S. units like the euro, pound and yen held in the foreign exchange reserves.

Also read: RBI Has More Room for Bond Buys as India’s Banks Return Cash

The gold reserves rose by $499 million in the reporting week to $38.02 billion.

The special drawing rights with the International Monetary Fund marginally declined by $1 million to $1.482 billion during the week.

The country's reserve position with the International Monetary Fund declined by $11 million to $4.637 billion during the reporting week, the data showed.

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