India’s forex falls by $1.41 billion

India’s foreign exchange reserves fell by $1.41 billion to $314.18 billion for the week ended on Sep 26, Reserve Bank of India (RBI) data showed.  The reserves had decreased by $101.3 million to $315.59 billion for the week ended on 19 September.

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, plunged by $1.39 billion at $287.39 billion in the week under review.

The foreign currency assets had decreased by $18.5 million at $288.78 billion in the previous week.  The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.


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