India’s forex reserves decline by over $1 bn

Mumbai, Sep 17 : Indias foreign exchange reserves fell by $1.340 billion during the week ended September 10.

The Reserve Bank of Indias (RBI) forex reserves declined to $641.113 billion from $642.453 billion reported for the week ended September 3.Indias forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the countrys reserve position with the IMF.On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $934 million to $578.879 billion.Similarly, the value of the countrys gold reserves declined by $413 million to $37.669 billion.However, the SDR value inched up by $1 million to $19.438 billion.In addition, the countrys reserve position with the IMF rose by $5 million to $5.127 billion.