The gold reserves declined by $ 1.206 billion to $ 34.215 billion in the reporting week, as per the data.
PTI
March 12, 2021 / 07:40 PM IST
The country’s foreign exchange reserves declined by $ 4.255 billion to $ 580.299 billion in the week ended March 5, according to RBI data. In the previous week ended February 26, the reserves rose by $ 689 million to $ 584.554 billion. It had touched a record high of $ 590.185 billion in the week ended January 29, 2021.
In the reporting week ended March 5, the fall in reserves was due to a decline in the Foreign Currency Assets (FCA). The FCA dipped by $ 3.002 billion to $ 539.613 billion, the Reserve Bank of India’s (RBI) weekly data showed.
Expressed in dollar terms, FCA includes 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 declined by $ 1.206 billion to $ 34.215 billion in the reporting week, as per the data.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) fell by $ 11 million to $ 1.506 billion in the reporting week. The country’s reserve position with the IMF also declined by $ 36 million to $ 4.965 billion in the reporting week, the data showed.