The country's foreign exchange reserves fell $6.687 billion to $564.053 billion in the week ended August 19, according to the Reserve Bank of India (RBI) data. In the previous week ended August 12, the reserves declined $2.238 billion to $570.74 billion.
The drop in the reserves during the week ended August 19 was due to a fall in the Foreign Currency Assets (FCA) and the gold reserves, as per the Weekly Statistical Supplement released by RBI on Friday. FCA fell $5.779 billion to $501.216 billion in the reporting week.
Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves declined $704 million to $39.914 billion, the data showed. The Special Drawing Rights (SDRs) decreased $146 million to $17.987 billion. The country's reserve position with the IMF also fell $58 million to $4.936 billion in the reporting week.