New Delhi: The foreign exchange reserves of India fell lowest since July 2020 in the week ended October 21. The weekly statistical supplement data released by Reserve Bank of India (RBI) revealed this. As per the data, the forex reserves of the country dropped by $ 3.847 billion to $524.52 billion for the week ended October 21.
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.
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Foreign currency assets (FCA), a major component of the overall reserves, declined by $ 3.593 billion to $ 465.075 billion. Gold reserves saw a depreciation by $ 247 to $37.206 billion. The Special Drawing Rights (SDRs) were up by $ 7 million to $ 17.44 billion. The country’s reserve position with the IMF was down by $ 14 million to $ 4.799 billion.
The country’s forex reserves had reached an all-time high of $645 billion in last October.
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