The news is by your side.
AED
$0.27
0%
AFN
$0.01
-1.14%
ALL
$0.01
0%
AMD
$0.00
+0.65%
ANG
$0.55
+0.1%
AOA
$0.00
0%
ARS
$0.01
+0.37%
AUD
$0.69
+0.09%
AWG
$0.56
0%
AZN
$0.59
0%

Forex reserves decline $763 million to $640.11 billion – ET Auto


FCA dropped by $ 2.094 billion to $ 575.487 billion in the reporting week, according to the data.
FCA dropped by $ 2.094 billion to $ 575.487 billion in the reporting week, according to the data.

The country’s foreign exchange reserves declined by $ 763 million to $ 640.112 billion in the week ended November 12, RBI data showed. In the previous week ended November 5, the reserves had decreased by $ 1.145 billion to $ 640.874 billion. It touched a lifetime high of $ 642.453 billion in the week ended September 3, 2021.

In the reporting week, the decline in the foreign exchange reserves was on account of a dip in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India‘s (RBI) weekly data released on Friday showed.

FCA dropped by $ 2.094 billion to $ 575.487 billion in the reporting week, according to the data.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves were up by $ 1.461 billion to $ 40.239 billion in the reporting week. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped $ 103 million to $ 19.184 billion. The country’s reserve position with the IMF was down by $ 27 million to $ 5.201 billion in the reporting week, the data showed.

Also Read:

“At the end of the quarter ended September 2021, the value of FPI investments in Indian equities shot up sharply to USD 667 billion, which was considerably higher than the USD 592 billion recorded in the previous quarter, a spike of around 13 per cent,” the report noted.





Read More : Forex reserves decline $763 million to $640.11 billion – ET Auto

You might also like
Leave A Reply

Your email address will not be published.