Mumbai: The foreign exchange reserves of the country fell by $4.6 billion in the week ending June 10. The foreign exchange reserves fell below the $600 billion mark. The decline in the Foreign Currency Assets (FCA) is the main reason for the downfall. The weekly statistical supplement released by the Reserve Bank of India (RBI) has revealed this.
The foreign exchange reserves is at $596.458 billion. It was at $601.957 in the prior reported week.
Also Read; Indian Railways allows additional halt for a train
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). 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.
FCAs declined by $4.535 billion to $532.244 billion. Gold reserves fell marginally by $1 million to $40.842 billion. The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dropped by $23 million to $18.388 billion. The country’s reserve position with the IMF also fell by $40 million to $4.985 billion.
Post Your Comments