Forex reserves down $3 bn to $561 bn

MUMBAI: The country’s foreign exchange reserves declined by $3.007 billion to $561.046 billion in the week ended August 26, the Reserve Bank of India (RBI) data showed.

In the previous week ended August 19, the reserves had dipped by $6.687 bn to $564.053 billion.

The fall in the reserves during the reporting week ended August 26 was on account of a dip in the foreign currency assets (FCA), a major component of the overall reserves, and the gold reserves, according to the Weekly Statistical Supplement released by the RBI on Friday. FCA decreased by $2.571 bn to $498.645 bn in the reporting week.

Gold reserves decreased by $271 mn to $39.643 bn, the data showed. The Special Drawing Rights dropped by $155 mn to $17.832 bn. The country’s reserve position with the IMF also dipped by $10 mn to $4.926 bn in the reporting week, the data showed.