India Forex Reserves Drop to USD 716.81 Billion

Mumbai, Mar 13 (PTI) India's forex reserves dropped by USD 11.683 billion to USD 716.810 billion during the week ended March 6, the RBI said on Friday.

In the previous reporting week, the overall reserves had increased by USD 4.885 billion to an all-time high of USD 728.494 billion.

For the week ended March 6, foreign currency assets, a major component of the reserves, decreased by USD 9.880 billion to USD 563.245 billion, according to data released by the central bank.


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

The value of the gold reserves declined by USD 1.612 billion to USD 130.017 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 146 million to USD 18.720 billion.

India's reserve position with the IMF also fell USD 45 million to USD 4.828 billion in the reporting week, according to data.