Foreign Exchange Reserves Had Decreased In India

Foreign exchange reserves had decreased in India, There has been a decline in foreign exchange reserves, now this many billion dollars have come down.

The country’s foreign exchange reserves declined by $ 1.783 billion to $ 635.905 billion in the week ended December 3.

According to the data released by the Reserve Bank of India on Friday, in the previous week, FER had declined by $ 2713 million to $ 637.687 billion.

According to RBI’s weekly data, the reason for the fall in forex reserves in the reporting week ended December 3 was due to a fall in foreign currency assets (FCAs), which form a significant part of the total reserves.

FCA down $1.4 billion.

According to RBI data, FCAs declined by $1.483 billion to $573.181 billion during the week.

Foreign currency assets expressed in dollars also include movements of non-US currency such as the euro, pound, and yen held in FER.

Gold reserves down by $400 million

During this period, the value of gold reserves declined by $ 407 million to $ 38.418 billion.

Special drawing rights with the International Monetary Fund (IMF) increased by $90 million to $19.126 billion in the week under review.

The country’s currency reserves with the International Monetary Fund increased by $17 million to $5.18 billion.

Foreign exchange reserves had decreased in November as well.

For the week ended November 26, it had declined by $2.713 billion to $637.687 billion.

According to the RBI, in the previous week ended November 19, foreign exchange reserves had increased by $ 289 million to $ 640.401 billion.

At the same time, in the week ended September 3, the currency reserves had reached an all-time high of $ 642.453 billion.

According to the weekly data of the Reserve Bank, the decline in FER in the reporting week ended November 26 was due to the fall in foreign currency assets.

It is an important part of the total currency reserves.