India?s forex reserves drop by $4.924 billion to $780.782 billion

India?s forex reserves dropped by USD 4.924 billion to USD 780.782 billion during the week ended September 11 due to a fall in foreign currency and gold reserves, according to the RBI data released on Friday.

For the week ended September 11, foreign currency assets, a major component of reserves, fell by USD 2.372 billion to USD 645.796 billion, the central bank data showed.

The value of gold reserves fell by USD 2.591 billion to USD 111.225 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up USD 39 million to USD 18.845 billion, the apex bank said.

India?s reserve position with the IMF stood at USD 4.916 billion in the reporting week, according to the apex bank?s data.

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