2 days ago
India's Forex Reserves Fall $18.34 Billion to $747.56 Billion
India keeps foreign money and gold as reserves.
These reserves help show how much financial strength the country has.
The Reserve Bank of India said the reserves fell by $18.34 billion in one week.
They stood at $747.56 billion on September 25.
Most of the decrease came from foreign currency assets.
The value of India’s gold reserves also went down.
Special Drawing Rights and its reserve position with the IMF decreased too.
The reserves had previously reached a record $785.71 billion on September 4.
India’s foreign exchange reserves fell $18.34 billion to $747.56 billion in the week ended September 25.
The decline followed a $14.88 billion drop in the previous reporting week.
Foreign currency assets decreased $15.57 billion to $615.41 billion.
Gold reserves fell $2.59 billion to $108.7 billion during the week.
Special Drawing Rights declined $97 million, while India’s IMF reserve position fell $86 million to $4.8 billion.
- Who
- The Reserve Bank of India reported the change in India’s foreign exchange reserves.
- What
- India’s foreign exchange reserves decreased by $18.34 billion to $747.56 billion.
- Where
- India’s foreign exchange reserves and related holdings.
- When
- For the week ended September 25; the data was released on Friday.
- Why
- The decrease reflected lower foreign currency assets, gold reserves, Special Drawing Rights, and India’s reserve position with the IMF; currency movements can affect foreign currency asset values.
Key facts
- Reserves on September 25
- $747.56 billion
- Weekly decrease
- $18.34 billion
- Previous weekly decrease
- $14.88 billion
- Record high
- $785.71 billion for the week ended September 4
- Foreign currency assets
- $615.41 billion, down $15.57 billion
- Gold reserves
- $108.7 billion, down $2.59 billion
- IMF reserve position
- $4.8 billion, down $86 million
Sources
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