India’s forex reserves fall by $4.924 billion to $780.782 billion

India’s foreign exchange reserves fell by USD 4.924 billion to USD 780.782 billion during the week ended September 11, according to data released by the Reserve Bank of India (RBI) on Friday.

The decline came a week after the reserves rose by a record USD 44.903 billion to a lifetime high of USD 785.706 billion.

Foreign currency assets, the largest component of India’s reserves, fell by USD 2.372 billion to USD 645.796 billion during the reporting week. The assets include the impact of appreciation or depreciation of non-US currencies, including the euro, pound and yen, held in the reserves.

Gold reserves also declined by USD 2.591 billion to USD 111.225 billion, the RBI data showed.

Special Drawing Rights (SDRs) increased by USD 39 million to USD 18.845 billion during the week.

India’s reserve position with the International Monetary Fund stood at USD 4.916 billion, according to the central bank.