India’s forex reserves fall by $ 819.5 million to $ 399.282 billion

Maintaining a downward trend for the second consecutive week, India’s foreign exchange reserves fell by $ 819.5 million to $ 399.282 billion during the week ended September 7, the Reserve Bank of India (RBI) said here today.
The country’s forex reserves had dipped by $ 1.191 billion to $400.102 billion during the previous week.
In its weekly statistical supplement issued here today, the central bank said that foreign currency assets, which constitute a major chunk of the forex reserves, had fallen by $ 887.4 million to $375.099 billion during the week.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
According to the bulletin, the country’s gold reserves increased by $ 71.9 million to $ 20.234 billion, while its special drawing rights (SDR) decreased by $ 1.5 million to $ 1.475 billion.
India’s reserve position in the International Monetary Fund (IMF) went down by $ 2.5 million to $ 2.473 billion, the bulletin added.

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