Foreign exchange reserves decline to $716.81 bn: RBI – The Tribune

India’s forex reserves declined by $11.68 billion to $716.81 billion during the week that ended March 6, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the overall reserves had increased by $4.88 billion to an all-time high of $728.49 billion. The RBI also said throughout the week, the value of gold reserves dipped by $1.612 billion to $130.017 billion. The Special Drawing Rights (SDRs) were down by $146 million to $18.720 billion. The data further shows that during the reporting week, India’s reserve position with the IMF decreased by $45 million to $4.828 billion.

The effects of appreciation or depreciation of non-US currency held in the foreign exchange reserves, such as the euro, pound, and yen, are included in the foreign currency assets, which are expressed in dollars.