India's foreign exchange reserves decline to $570.74 billion

Mumbai: The country's foreign exchange reserves fell $2.238 billion to $570.74 billion in the week ended 12 August, according to the Reserve Bank of India (RBI) data.In the previous week ended 5 August, the foreign exchange reserves declined $897 million to $572.978 billion.The fall in the reserves in the reporting week ended 12 August was on account a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI on Friday.FCA declined $2.652 billion to $506.994 billion, the data showed.Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves surged $305 million to $40.618 billion. The Special Drawing Rights (SDRs) increased $102 million to $18.133 billion.The country's reserve position with IMF also rose by $7 million to $4.994 billion in the reporting week, as per the data.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.