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Forex reserves down by USD 353 million to USD 541.66 billion

Forex reserves down by USD 353 million to USD 541.66 billion
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After touching a lifetime high last week, India's foreign exchange reserves declined by 353 million dollars to 541.660 billion dollars in the week ended September 11, 2020, according to the Reserve Bank data

After touching a lifetime high last week, India's foreign exchange reserves declined by 353 million dollars to 541.660 billion dollars in the week ended September 11, 2020, according to the Reserve Bank data.

The foreign currency assets (FCA) - a major part of the overall reserves – have decreased by 841 million dollars to 497.521 billion dollars, during the reporting week. 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.

In the previous week, the reserves had increased by 582 million dollars to a record high of 542.013 billion dollars. The gold reserves rose by 499 million dollars in the reporting week to reach 38.02 billion dollars. The country's special drawing rights with the International Monetary Fund marginally declined by one million dollars to 1.482 billion dollars; while reserve position with the IMF declined by 11 million dollars to 4.637 billion dollars.

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