Forex reserves down $4.5 billion to $596.4 billion, shows RBI data

The country's foreign exchange reserves declined by USD 4.599 billion to USD 596.458 billion in the week ended June 10, RBI data showed on Friday.

In the previous week, the reserves had decreased by USD 306 million to USD 601.057 billion.

During the week ended June 10, the fall in the forex reserves was on account of a dip in Foreign Current Assets (FCAs), a major component of the overall reserves.

FCAs declined by USD 4.535 billion to USD 532.244 billion in the reporting week, according to the Weekly Statistical Supplement, released by the Reserve Bank of India (RBI) on Friday.

Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves marginally fell by USD 1 million to USD 40.842 billion.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dropped by USD 23 million to USD 18.388 billion, RBI said.

The country's reserve position with the IMF also fell by USD 40 million to USD 4.985 billion in the reporting week, the data showed.