Forex reserves down $3 bn to $561 bn

The country's foreign exchange reserves declined by $3.01 billion to $561.05 billion in the week ended August 26, the Reserve Bank of India (RBI) data showed.

In the previous week ended August 19, the reserves had dipped by $6.69 billion to $564.05 billion.

The fall in the reserves during the reporting week ended August 26 was on account of a dip in the foreign currency assets (FCA), a major component of the overall reserves, and the gold reserves, according to the Weekly Statistical Supplement released by the RBI on Friday.

FCA decreased by $2.57 billion to $498.64 billion in 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.

Gold reserves decreased by $271 million to $39.64 billion, the data showed.

The Special Drawing Rights (SDRs) dropped by $155 million to $17.832 billion.

The country's reserve position with the IMF also dipped by $10 million to $4.93 billion in the reporting week, the data showed.