Mumbai: The foreign exchange reserves of the country declined by $4.531 billion to $629.755 billion for the week ended January 28. The decline in the foreign currency assets and fall in the value of gold reserves is the reason for this. The weekly statistical supplement released by the Reserve Bank of India (RBI) has revealed this.
The foreign exchange reserves of the country comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF). FCA is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves. It slipped by $3.504 billion to $566.077 billion. The foreign currency assets had dipped by $1.115 billion in the week ended January 21.
Also Read: Reliance Jio network down in Mumbai, users share memes on Twitter
The value of gold reserves declined by $844 million to $39.493 billion. The value of India’s special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $141 million to $19.011 billion. Country’s reserve position in the IMF dropped by $42 million to $5.174 billion.
Post Your Comments