Foreign exchange reserves decline $902 million to $474 billion: RBI data

The country's reserve position with the IMF dipped by $19 million to $3.57 billion, the data showed
India's foreign exchange reserves declined by $902 million to $474.66 billion in the week to April 3 due to a fall in foreign currency assets, said RBI data on Friday.

In the previous week, the reserves had surged by $5.65 billion to $475.56 billion, according to the latest data, news agency PTI reported.

The reserves had touched a life-time high of $487.23 billion in the week to March 6, after it rose by $5.69 billion.

In the reporting week ended April 3, the foreign currency assets (FCA), a major component of the overall reserves, decreased by $547 million to $439.12 billion.

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

The gold reserve also declined by $340 million to $30.55 billion in the reporting week, the RBI data showed.

The special drawing rights with the International Monetary Fund (IMF) were up by $5 million to $1.43 billion.

The country's reserve position with the IMF dipped by $19 million to $3.57 billion, the data showed.


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