There has been a decrease in the foreign currency assets of the country again. It has registered a decline for the sixth consecutive week. Due to this the total foreign exchange reserves of the country have also slipped down. India's foreign exchange reserves decreased by $2.23 billion in the week ended September 9. During the first week ended August 2, 2022, there was a decrease of $ 7.94 billion in foreign exchange reserves. It was reduced to $ 553.105 billion.
Data released by Reserve Bank
According to the information released by the RBI, during the week ended September 9, 2022, the foreign exchange reserves declined by $ 2.234 billion to $ 550.871 billion. Earlier on September 2, it had come down to $ 553.105 billion. After the week ended August 5, it registered a steady decline. Before that, forex reserves had increased by $ 2.4 billion to $ 573.875 billion in the week ended July 29. After that, it continued to decline for four consecutive weeks.
Foreign currency assets also declined
The reason for the fall in the reserves during the week ending September 9 is the decrease in foreign currency assets. It is a significant part of the total currency. According to the weekly data released by the RBI on Friday, the foreign currency assets (FCA) have decreased by $ 2.519 billion and stood at $ 489.598 billion in the reporting week. Foreign currency assets held in foreign exchange reserves, expressed in dollars, include the effects of appreciation or inflation in non-US currencies such as the euro, pound, and yen.
Gold reserves and SDR increased in the country
According to the data, gold reserves have increased in the week under review. Its value has increased by $ 340 million to $ 38.644 billion. During the previous week, it had decreased by $ 1.339 billion. On the other hand, the SDR (Special Drawing Rights) increased by $800 million during the week ending September 9, reaching $4.910.
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