Currency reserves fall by $ 697 million due to the fall in monetary assets

MUMBAI: The country's foreign exchange reserves decreased by $ 697.2 million to $ 428.952 billion in the week as of August 2, due to the fall in foreign currency assets, according to the latest weekly RBI data.

In the previous week, the reserves had decreased by $ 727.1 million to $ 429.649 million.

The reserves had reached a lifetime maximum of $ 430.376 billion in the week until July 19, 2019.

During the reporting week, foreign currency assets, which are an important component of general reserves, were reduced by $ 633 million to $ 398,724 million, the Central Bank said on Friday.

Expressed in dollars, foreign currency assets include the effect of the appreciation/depreciation of non-US units such as the euro, the pound and the yen in reserves.

The country's gold reserves fell by $ 166.4 million to $ 25.163 billion, according to data from the Central Bank.

Special drawing rights with the International Monetary Fund fell by $ 9.5 million to $ 1.434 billion.

The country's reserve position with the fund rose by $111.7 million to $3.629 billion.