The gold reserves increased by $ 276 million to $ 34.907 billion in the reporting week, the RBI data showed.
April 02, 2021 / 07:12 PM IST
The country’s foreign exchange reserves declined by $ 2.986 billion to reach $ 579.285 billion in the week ended March 26, RBI data showed on Friday. In the previous week ended March 19, the forex kitty had increased by $ 233 million to $ 582.271 billion. It had touched a record high of $ 590.185 billion in the week ended January 29, 2021.
In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by $ 3.226 billion to $ 537.953 billion, as per weekly data by the Reserve Bank of India (RBI).
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 increased by $ 276 million to $ 34.907 billion in the reporting week, the RBI data showed.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $ 9 million to $ 1.49 billion. The country’s reserve position with the IMF declined by $ 27 million to $ 4.935 billion in the reporting week, according to the data.