Mumbai, Sept. 18 -- India's forex reserves dropped by $4.924 billion to $780.782 billion during the week ended September 11 due to a fall in foreign currency and gold reserves, according to the RBI data released on Friday.
In the previous reporting week, forex reserves jumped by a record $44.903 billion to a new lifetime high of $785.706 billion.
For the week ended September 11, foreign currency assets, a major component of reserves, fell by $2.372 billion to $645.796 billion, the central bank data showed.
Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in foreign exchange reserves.
The value of gold reserves fell by $2.591 billion to $111.225 billion during the week, the RBI said.
The Special Drawing Rights (SDRs) were up $39 million to $18.845 billion, the apex bank said.
India's reserve position with the IMF stood at $4.916 billion in the reporting week, according to the apex bank's data.
Published by HT Digital Content Services with permission from Millennium Post.