Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Forex reserves fall by $862 million to $399 billion
BackBack

Forex reserves fall by $862 million to $399 billion

The foreign currency assets (FCAs), a major component of the overall forex reserves, decreased by $1.391 billion to $373.795 billion, RBI data showed

India’s forex reserves had touched a lifetime high of $402.509 billion in the week to 15 September. Photo: Bloomberg (Bloomberg)Premium
India’s forex reserves had touched a lifetime high of $402.509 billion in the week to 15 September. Photo: Bloomberg (Bloomberg)

Mumbai: The country’s foreign exchange reserves declined by $862.2 million to $398.794 billion in the week to 6 October due to fall in foreign currency assets, the Reserve Bank of India data showed.

In the previous week, the reserves had fallen by $2.590 billion to $399.656 billion. It had touched a lifetime high of $402.509 billion in the week to 15 September.

The foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.391 billion to $373.795 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

After remaining unchanged for past few weeks, gold reserves rose by $548.6 million to $21.240 billion.

The special drawing rights with the International Monetary Fund (IMF) declined by $7.9 million to $1.494 billion. The country’s reserve position with the IMF declined by $11.9 million to $2.264 billion, the apex bank said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Oct 2017, 08:49 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App