India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).
India’s foreign exchange (Forex) reserves declined $915.8 million during the week ended October 5, RBI data showed.
According to the central bank’s weekly statistical supplement, the overall forex reserves decreased to $399.60 billion from $400.52 billion reported for the week ended September 28.
Segment-wise, FCAs — the largest component of the forex reserves — plunged by $1.01 billion to $375.23 billion during the week under review.
Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.
However, the RBI’s weekly statistical supplement showed that the value of the country’s gold reserves increased. It went up by $107.3 million to $20.45 billion.
As per the data, the SDRs’ value fell by $4.3 million to $1.46 billion, while the country’s reserve position with the International Monetary Fund (IMF) decreased by $7.2 million to $2.46 billion.