The country’s foreign exchange reserves fell by $ 1.169 billion to $ 637.477 billion in the week ended October 1, according to RBI data on Friday. In the previous week ending September 24, 2021, reserves were down $ 997 million to $ 638.646 billion. For the week ended September 3, 2021, reserves rose by $ 8.895 billion to a lifetime high of $ 642.453 billion.
During the reporting week ending October 1, 2021, foreign currency assets (FCAs), a key component of overall reserves, fell as the forex kitty fell. According to the Reserve Bank of India (RBI) Weekly data, FCAs declined by $ 1.28 billion to $ 575.451 billion.
Foreign currency assets include the effect of appreciation or depreciation of non-US units such as the Euro, Pound and Yen on foreign exchange reserves, expressed in dollar terms. Gold reserves rose $ 128 million during the week to $ 37.558 billion.
Special drawing rights (SDR) with the International Monetary Fund (IMF) fell $ 138 million to $ 19.24 billion. The country’s balance sheet with the IMF increased by $ 122 million to $ 5.228 billion.