India's foreign exchange reserves decline to $570.74 billion

Mumbai: The country’s foreign exchange reserves fell $2.238 billion to $570.74 billion in the week ended 12 August, according to the Reserve Bank of India (RBI) data. In the previous week ended 5 August, the foreign exchange reserves declined $897 million to $572.978 billion. The fall in the reserves in the reporting week ended 12 August was on account a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI on Friday. FCA declined $2.652 billion to $506.994 billion, the data showed. 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 surged $305 million to $40.618 billion. The Special Drawing Rights (SDRs) increased $102 million to $18.133 billion. The country’s reserve position with IMF also rose by $7 million to $4.994 billion in the reporting week, as per the data. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.