India’s foreign exchange reserves fell by USD 14.881 billion to USD 765.901 billion in the week ended September 18, according to data released by the Reserve Bank of India (RBI).
The decline follows a USD 4.924 billion fall in the previous reporting week, when reserves stood at USD 780.782 billion.
The latest drop was primarily driven by a decline in foreign currency assets (FCAs), the largest component of India’s forex reserves. FCAs decreased by USD 14.816 billion to USD 630.980 billion during the week under review, RBI data showed.