India's forex reserves fall by $897 million to $572.978 billion

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India's forex reserves fall by $897 million to $572.978 billion

India's loss fell by $897 million to $572.978 billion in the week ending August 5, according to the Reserve Bank of India's weekly bulletin.

The fall was seen after it rose during the week ending July 29 after falling for the four consecutive weeks earlier in the week.

Foreign currency assets have declined by $1.611 billion to $509.646 billion in the last week, which has led to the fall in this week.

Foreign Currency Assets FCA are the most important part of the RBI's foreign exchange reserve, as they are the assets like US Treasury Bills bought by the RBI using foreign currencies.

The FCA is the largest component of the forex reserve.

In the week ending August 5th, gold reserves increased by $671 million to $40.313 billion.

The country's reserve position with the IMF declined by $3 million to $4.987 billion in the reporting week, according to the data.