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India’s Forex Reserves Dip by $862 mn to $399 bn
October 16, 2017
According to the data provided by the Reserve Bank of India, the country’s foreign exchange reserves have lowered to $398.794 billion, a decline of $862 million, during the first week of October.
The fall has been mainly contributed to the decline in the foreign currency assets (FCAs). As per the data, the FCAs reduced to $373.795 billion from $375.186 billion.
The FCAs form an important part of the overall reserves and are affected by the appreciation or depreciation of non-US currencies like yen, pound etc. that are held in the forex reserves.
