India’s forex reserves drop USD 2.119 bn to USD 723.608 bn

Key Highlights

• 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.
• Value of the gold reserves dropped by USD 977 million to USD 127.489 billion during the week, the RBI said.
• The Special Drawing Rights (SDRs) were down by USD 84 million to USD 18.84 billion, the apex bank said.
• India’s reserve position with the IMF was also down by USD 18 million to USD 4.716 billion in the reporting week, according to the apex bank’s data.
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