India Forex Reserves Below $700 Billion

Mumbai, Oct 10 (PTI) India's forex reserves fell by USD 276 million to USD 699.96 billion during the week ended October 3, according to RBI data.

In the previous reporting week, India's forex reserves had dropped by USD 2.334 billion to USD 700.236 billion.

For the week ended October 3, foreign currency assets, a major component of the reserves, decreased by USD 4.049 billion to USD 577.708 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of the gold reserves increased by USD 3.753 billion to USD 98.77 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were up by USD 25 million to USD 18.814 billion, the central bank said.

India's reserve position with the IMF declined by USD 4 million to USD 4.6669 billion in the reporting week, the apex bank data showed.