India’s forex reserves fall $14.89 bn to $766 bn: RBI data

Fresh updates from the financial markets indicate that India's forex reserves eased by $14.881 billion to $765.901 billion during the week ended September 18 due to a decline in foreign currency assets, according to the RBI data released on Friday.

In the previous reporting week, forex reserves had fallen by $4.924 billion to $780.782 billion.

For the week ended September 18, foreign currency assets, a major component of reserves, declined by $14.816 billion to $630.980 billion, according to the data released by the Reserve Bank of India (RBI).

Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.

The value of gold reserves increased by $68 million to $111.292 billion during the week, the RBI stated.

The Special Drawing Rights (SDRs) were down $106 million to $18.739 billion. India's reserve position with the IMF stood at $4.89 billion.