India's foreign exchange reserves fall to $573 bn

The country's foreign exchange reserves declined USD 897 million to USD 572.978 billion in the week ended August 5, according to the Reserve Bank of India (RBI). In the previous week ended July 29, the reserves had risen USD 2.315 billion to USD 573.875 billion.

In the week ended August 5, the fall in the foreign exchange reserves was due to a dip in the Foreign Currency Assets (FCA), a major component of the overall reserves, as per the Weekly Statistical Supplement released by RBI on Friday.

FCA declined USD 1.611 billion to USD 509.646 billion, the 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.

Gold reserves increased USD 671 million to USD 40.313 billion in the week ended August 5.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose USD 46 million to USD 18.031 billion.

The country's reserve position with the IMF declined USD 3 million to USD 4.987 billion in the reporting week, the data showed.

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