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India’s forex reserves down by over $4 bn – ET Auto


 The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
The country’s forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

India’s foreign exchange reserves declined by $4.531 billion during the week ended January 28.

The Reserve Bank of India’s forex reserves decreased to $629.755 billion from $634.287 billion reported for January 21.

The country’s forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $3.504 billion to $566.077 billion. Similarly, the value of the country’s gold reserves decreased by $844 million to $39.493 billion.

The SDR value fell by $141 million to $19.011 billion and the country’s reserve position with the IMF declined by $42 million to $5.174 billion.

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The RBI has said that while permitted forex transactions can be executed electronically, they should be undertaken only on ETPs authorised for the purpose by the central bank or on recognised stock exchanges (NSE, BSE and Metropolitan Stock Exchange of India).

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