Mumbai: The foreign exchange reserves of India fell marginally in the week ended on August 25. The Weekly Statistical Supplement released by the Reserve Bank of India (RBI) revealed this.
As per data, the forex reserves dropped by $ 30 million to $ 594.858 billion for the week ended August 25. In the previous reporting week, the overall reserves had dropped by $ 7.273 billion to $ 594.888 billion.
On October 2021, the country’s forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as RBI deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
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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.
The foreign currency assets, decreased by $ 538 million to $ 527.249 billion. Gold reserves were up by $530 million to $44.354 billion. The Special Drawing Rights (SDRs) were down by $ 11 million to $ 18.194 billion. The country’s reserve position with the IMF was also down by $ 12 million to $ 5.061 billion in the reporting week.
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