Reserves of foreign currency decrease by USD 897 million to USD 572.978 billion

The Reserve Bank of India reported that the nation's foreign exchange reserves decreased by USD 897 million to USD 572.978 billion in the week ending August 5. (RBI). The reserves increased by USD 2.315 billion to USD 573.875 billion in the week before July 29.

According to the Weekly Statistical Supplement provided by the RBI on Friday, the decline in foreign currency reserves for the week ending August 5 was caused by a decline in the Foreign Currency Assets (FCA), a significant portion of the total reserves. According to the data, FCA decreased by USD 1.611 billion to USD 509.646 billion.

When expressed in dollar terms, FCA takes into account the impact of appreciation or depreciation of non-US currencies held in foreign exchange reserves, such as the euro, pound, and yen. In the week ending August 5, gold reserves rose by USD 671 million to USD 40.313 billion.

With the International Monetary Fund (IMF), Special Drawing Rights (SDRs) increased by USD 46 million to USD 18.031 billion. The statistics showed that the nation's reserve position with the IMF decreased by USD 3 million to USD 4.987 billion during the reporting week.