New Delhi: The foreign exchange reserves of the country slipped down by $ 9.646 billion to $ 622.275 billion for the week ended March 11. The weekly statistical supplement released by the Reserve Bank of India (RBI) has revealed this.
The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). As per the RBI, the decrease was due to a sharp drop in the value of foreign currency assets of the country
Also Read; Private bank revises fixed deposit interest rates
FCA declined by $ 11.108 billion to $ 554.359 billion. 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.
India’s reserve position in the International Monetary Fund (IMF) dropped by $ 7 million to $ 5.146 billion. The value of gold reserves jumped by $ 1.522 million to $ 43.842 billion. India’s special drawing rights (SDRs) with the IMF slipped down by $ 53 million to $18.928 billion.
India’s forex reserves jumped by $ 394 million to $ 631.92 billion in the prior week that ended on March 4. Forex reserves had touched a lifetime high of $ 642.453 billion in the week that ended on September 3, 2021.
Post Your Comments