- India’s forex reserves dip by USD 2.334 billion to USD 700.236 billion
- FCA down; gold reserves rise by USD 2.238 billion in the week to Sept 26
- SDRs and IMF position decline marginally, says RBI
New Delhi: India’s foreign exchange reserves fell by USD 2.334 billion to USD 700.236 billion for the week ended September 26, according to Reserve Bank of India (RBI) data released on Friday. In the previous week, reserves had eased by USD 396 million to USD 702.57 billion.
What moved this week
- Foreign Currency Assets (FCA): Decreased by USD 4.393 billion to USD 581.757 billion. (FCA reflects valuation changes of euro, pound, yen, etc., against the US dollar.)
- Gold Reserves: Increased by USD 2.238 billion to USD 95.017 billion.
- Special Drawing Rights (SDRs): Down by USD 90 million to USD 18.789 billion.
- IMF Reserve Position: Down by USD 89 million to USD 4.673 billion.
Quick Take: The weekly dip was driven largely by a fall in foreign currency assets, partly offset by a notable rise in gold holdings. Minor declines in SDRs and the IMF position also contributed to the overall movement.
Source: RBI weekly statistical data (week ended September 26).
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