India's Forex reserves comprise of foreign currency assets (FCAs), gold, special drawing rights (SDRs) and the Reserve Bank of India's position with the International Monetary Fund (IMF). (Reuters)India's foreign exchange (Forex) reserves depleted by $956.4 million as on April 7, 2017, official data showed on Friday. Segment-wise, FCAs — the largest component of the Forex reserves — receded by $951 million to $345.36 billion during the week under review. According to the Reserve Bank of India's weekly statistical supplement, the overall Forex reserves decreased to $368.99 billion from $369.95 billion reported for the week ended March 31. The country's reserve position with the IMF inched lower by $2.3 million to $2.31 billion.
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Forex reserves fall $956 m at $369 b
India's foreign exchange reserves fell $956.4 million to $368.998 billion for the week ended April 7, due to a $951-million fall in foreign currency assets, the RBI said. The reserves had risen $2.022 billion to $369.954 billion in the previous week. They had touched an all-time high of $371.99 billion in the week ended September 30, 2016. (This article was published on April 14, 2017)Related
MUMBAI: India's forex reserves went down $956.4 million to slide down to around $367 billion for the week ended April 7 of this year said the Reserve Bank of India.This is the first time in almost two months that the forex reserves have gone down since the RBI was said to have been buying foreign currency with Rupee steadily strengthening over the last few weeks.According to market sources, the fall in forex reserves could be because of the fact that the RBI might not have bought foreign currency due to existing liquidity conditions in the economy.Further the fall in the value of foreign currency assets other than dollar that is held by RBI also saw a fall in their value against the dollar which could have caused the fall in total assets.
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