India's Forex kitty eases to $780.782 billion

India’s foreign exchange reserves decreased by USD 4.924 billion, settling at USD 780.782 billion for the period concluding September 11, as detailed in Reserve Bank of India data published on Friday. The decline reflects a contraction in both foreign currency and gold holdings.

For the week concluded September 11, data from the central bank indicated a decline of USD 2.372 billion in foreign currency assets, a principal constituent of reserves, to USD 645.796 billion. Gold reserves decreased by USD 2.591 billion, settling at USD 111.225 billion over the week, according to the RBI. The apex bank reported an increase of USD 39 million in Special Drawing Rights (SDRs), which now stand at USD 18.845 billion. According to data released by the central bank, India’s reserve position with the International Monetary Fund totaled USD 4.916 billion in the reported week.