Foreign exchange reserves fall $897mn to $572.98bn in week ending Aug 5

Mumbai: India’s foreign exchange reserves fell $897 million to $572.978 billion in the week ended August 5,
according to the Reserve Bank of India’s (RBI) bulletin weekly statistical supplement. The fall was witnessed after it rose during the week e n d i n g J u l y 2 9 a f t e r falling for the four consecuti ve weeks earlier. The fall in this week has witnessed due to decline in foreign currency assets by $1.611 billion to $509.646 billion. Foreign Currency Assets (FCA) that is the most important component of the RBI’s foreign exchange reserve are the assets like US Foreign exchange reserves fall $897mn to $572.98bn in week ending Aug 5 Treasury Bills bought by the R B I u s i n g f o r e i g n currencies. The FCA is the largest component of the forex reserve. Meanwhile, however, gold reserves increased $671 million to $40.313 billion in t h e w e e k ended Au g u st 5. T h e Speci a l Drawi n g Rights (SDRs) rose $46 million to $18.031 billion. The country’s reserve position with the IMF declined $3 million to $4.987 billion in the reporting week, the data showed.

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