Mumbai, Oct. 9 -- India's forex reserves dropped by $12.952 billion to $734.606 billion during the week ended October 2, according to the RBI data released on Friday.
The overall reserves had dropped by $18.343 billion to $747.557 billion in the previous reporting week ended September 25.
The reserves had touched an all-time high of $785.706 billion for the week ended September 4 on the back of a heavy flow of currency as part of a special concessional swap for deposits from the diaspora through which banks raised a record sum of nearly $133 billion. For the week ended October 2, foreign currency assets, a major component of reserves, decreased by $10.664 billion to $604.747 billion, the data showed.
The value of gold reserves decreased by $2.288 billion to $106.413 billion during the week. The Special Drawing Rights (SDRs) were up by $15 million to $18.656 billion.
India's reserve position with the International Monetary Fund (IMF) decreased by $15 million to
$4.789 billion.
Published by HT Digital Content Services with permission from Millennium Post.