Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Sat, 05 Mar 2022 11:30 AM IST
Summary
Forex Reserves Decline By 1.425 Billion Dollar: According to the information shared by the Reserve Bank of India (RBI), the country’s foreign exchange reserves declined by $ 1.425 billion to $ 631.527 billion in the week ended February 25. It had picked up pace in the last week.
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The country’s foreign exchange reserves declined by $1.425 billion to $631.527 billion in the week ended February 25. This information was shared by the Reserve Bank of India (RBI). Significantly, for the past few weeks, there was a continuous decrease in it, on which there was a break in the week ended February 18 and foreign exchange reserves increased by $ 2.762 billion to $ 632.952 billion.
This was the main reason for the decline
According to the data released by RBI, the fall in foreign exchange reserves has come due to depletion of foreign currency assets (FCAs). During the week under review, FCAs declined by $2.228 billion to $564.832 billion. Whereas, the Special Drawing Rights (SDR) with the International Monetary Fund (IMF) declined by $122 million to $19.04 billion. The country’s currency reserves kept with the IMF declined by $ 34 million to $ 5.187 billion. However, the country’s gold reserves rose by $95.8 million to $42.467 billion for the week ended February 25.
Expansion
The country’s foreign exchange reserves declined by $1.425 billion to $631.527 billion in the week ended February 25. This information was shared by the Reserve Bank of India (RBI). Significantly, for the past few weeks, there was a continuous decrease in it, on which there was a break in the week ended February 18 and foreign exchange reserves increased by $ 2.762 billion to $ 632.952 billion.
This was the main reason for the decline
According to the data released by RBI, the fall in foreign exchange reserves has come due to depletion of foreign currency assets (FCAs). During the week under review, FCAs declined by $2.228 billion to $564.832 billion. Whereas, the Special Drawing Rights (SDR) with the International Monetary Fund (IMF) declined by $122 million to $19.04 billion. The country’s currency reserves kept with the IMF declined by $ 34 million to $ 5.187 billion. However, the country’s gold reserves rose by $95.8 million to $42.467 billion for the week ended February 25.