India’s forex reserves down by over $2.4 bn

Mumbai, April 9 : Indias foreign exchange reserves fell $2.415 billion during the week ended April 2.

According to the Reserve Bank of Indias (RBI) weekly statistical supplement, the reserves decreased to $576.869 billion from $579.285 billion reported for the week ended March 26.Indias forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the countrys reserve position with the International Monetary Fund (IMF).On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.515 billion to $536.438 billion.Similarly, the value of the countrys gold reserves fell by $884 million to $34.023 billion.The SDR value slipped by $4 million at $1.486 billion.On the same note, the countrys reserve position with the IMF inched lower by $12 million to $4.923 billion.