India's forex reserves drop by USD 33 mn: RBI data

The overall forex reserves inched down to USD 400.85 billion from USD 400.88 billion reported for the week ended August 10, according to the RBI.

MUMBAI: India`s foreign exchange (Forex) reserves slipped by USD 33.2 million during the week ended August 17, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves inched down to USD 400.85 billion from USD 400.88 billion reported for the week ended August 10.

India`s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI`s position with the International Monetary Fund (IMF).

Segment-wise, FCAs -- the largest component of the Forex reserves -- receded by USD 60.2 million to USD 376.21 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 percent of major global currencies. 

However, the value of the country`s gold reserves increased by USD 36.1 million to USD 20.73 billion.

As per the data, the SDRs` value slipped by USD 3.4 million to USD 1.46 billion, while the country`s reserve position with the IMF inched down by USD 5.7 million to USD 2.45 billion.