India’s forex reserves dropped by USD 4.992 billion to USD 593.904 billion for the week ended September 8, the Reserve Bank of India said on Friday.
In the previous reporting week, the kitty had jumped USD 4.039 billion to USD 598.897 billion.
For the week ended September 8, the foreign currency assets, a major component of the reserves, decreased by USD 4.265 billion to USD 526.426 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves were down by USD 554 million to USD 44.384 billion, the RBI said.
The special drawing rights were down by USD 134 million to USD 18.06 billion, the apex bank said.
The country’s reserve position with the IMF was also down by USD 39 million to USD 5.034 billion in the reporting week, the apex bank data showed.