Mumbai, Oct. 2 -- India's forex reserves dropped $18.343 billion to $747.557 billion during the week ended September 25, the Reserve Bank said on Friday.
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 over $130 billion.
For the week ended September 25, foreign currency assets, a major component of reserves, decreased by $15.57 billion to $615.411 billion, according to the data released by the Reserve Bank of India (RBI).
The value of gold reserves decreased $2.591 billion to $108.701 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were down $97 million to $18.642 billion, the apex bank said.
India's reserve position with the International Monetary Fund (IMF) decreased $86 million and stood at $4.804 billion.
Published by HT Digital Content Services with permission from Millennium Post.