India Forex Reserves Drop to USD 690.72 Billion

Mumbai, Aug 29 (PTI) India's forex reserves dropped USD 4.386 billion to USD 690.72 billion for the week ended August 22, the Reserve Bank of India (RBI) said on Friday.

The overall reserves had jumped USD 1.488 billion to USD 695.106 billion in the previous reporting week.

For the week ended August 29, foreign currency assets, a major component of the reserves, decreased USD 3.652 billion to USD 582.251 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.

The gold reserves decreased USD 665 million to USD 85.003 billion during the week, the RBI said.

The special drawing rights (SDRs) were down USD 46 million to USD 18.736 billion, the apex bank said.

India's reserve position with the IMF was also down USD 23 million at USD 4.731 billion in the reporting week, the apex bank data showed.