New Delhi, 18 March. Foreign exchange reserves have declined again. The country’s foreign exchange reserves declined by $2.4 billion to $560 billion in the week ended March 10. Last week, it had increased by $ 1.5 billion to $ 562.4 billion. The Reserve Bank of India has given this information in the data released.
According to the RBI, fall in foreign currency assets, gold, special drawing rights (SDRs) and reserves with the International Monetary Fund (IMF) led to fall in the forex. According to the data, the forex reserves declined by $2.4 billion to $560 billion in the week ended March 10. Its last week it had increased by $ 1.5 billion to $ 562.4 billion.
According to the Reserve Bank data, foreign currency assets (FCAs), which contribute significantly to the foreign exchange reserves, decreased by about $ 2.22 billion to $ 494.86 billion during this period. According to the data, there was also a decline in the country’s gold reserves and SDR. Gold reserves declined by $110 million to $41.92 billion. At the same time, the Special Drawing Rights (SDR) decreased by $ 53 million to $ 18.1 billion. Similarly, the reserve fund with the International Monetary Fund decreased by $ 1.1 million to $ 5.1 billion.
It is noteworthy that after a decline for five consecutive weeks, an increase in the country’s foreign exchange reserves was recorded in the week of March 3. During this period, an increase of $ 1.46 billion was registered in foreign exchange reserves. Earlier in October 2021, the country’s foreign exchange reserves were at an all-time high of US $ 645 billion.
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