Forex reserves dipped by $ 3.017 billion in last week of September

New Delhi, 02 October: The country’s foreign exchange reserves declined by $ 3.017 billion to $ 542.021 billion in the week ended on September 25, 2020.

Earlier in the week, foreign exchange reserves had reached an all-time high.

The Reserve Bank of India (RBI) released data in this regard on Friday.

Earlier, the country’s foreign exchange reserves had increased by $ 3.378 billion to $ 545.038 billion for the week ended September 18.

The decline in foreign currency assets (FCA) is the main reason for the decline in foreign exchange reserves during the period.

It is to be known that this forms an important part of the total foreign exchange reserves. During this time the FCA decreased by $ 1.523 billion to $ 499.941 billion.

According to RBI data, the country’s total gold reserves have decreased by $ 1.441 billion to $ 35.999 billion in the week under review.

In addition, the Special Drawing Rights (SDR) from the International Monetary Fund (IMF) has come down by $ 10 million to $ 1.472 billion.

Apart from this, according to the data, the foreign exchange reserves of the country deposited with the International Monetary Fund have also decreased by $ 43 million to $ 4.608 billion.

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