The news is by your side.
AED
$0.27
0%
AFN
$0.01
-0%
ALL
$0.01
+0.18%
AMD
$0.00
+0.19%
ANG
$0.55
-0.01%
AOA
$0.00
-0.39%
ARS
$0.01
+0.11%
AUD
$0.68
+1.34%
AWG
$0.56
-0%
AZN
$0.59
-0%

Forex reserves down by $2.67 bn, stands at $593.2 bn till May 13: RBI data


The country’s declined by USD 2.676 billion to stand at USD 593.279 billion in the week ended May 13, RBI data showed on Friday.

In the previous week, the reserves had declined by USD 1.774 billion to USD 595.954 billion.

According to an article ‘State of the Economy’, published in the RBI’s Bulletin for May, at USD 596 billion as on May 6 were equivalent to about 10 months of imports projected for 2022-23.

During the reporting week, the fall in the reserves was mainly on account of a drop in foreign currency assets (FCA), a major component of the overall reserves, and gold reserves, as per weekly data by the (RBI).

FCAs declined by USD 1.302 billion to USD 529.554 billion in the week.

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 .

Gold reserves decreased by USD 1.169 billion to USD 40.57 billion.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 165 million to USD 18.204 billion, RBI said.

The country’s reserve position with the IMF decreased by USD 39 million to USD 4.951 billion in the reporting week, the data showed.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Read More : Forex reserves down by $2.67 bn, stands at $593.2 bn till May 13: RBI data

You might also like
Leave A Reply

Your email address will not be published.