India Forex Reserves: The country’s foreign exchange reserves declined by $1.774 billion to $595.954 billion in the week ended May 12, 2022.
The country’s foreign exchange reserves have declined again. It declined by $1.774 billion to $595.954 billion in the week ended May 6, 2022. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.
Earlier, in the week ended April 29, 2022, foreign exchange reserves had declined by $ 2.695 billion to $ 597.73 billion. At a time when the rupee is under pressure due to heavy outflows by foreign investors, the Reserve Bank is reportedly intervening in all markets to rescue the rupee. In the 6 months till March 2022, the foreign exchange reserves had fallen by $ 28.05 billion.
FCA decreased by $ 2.835 billion
According to the weekly data released by RBI on Friday, this decline in foreign exchange reserves in the week ended May 6 was mainly due to the decrease in Foreign Currency Assets (Foreign Currency Assets), which is the total currency. It is an important part of the stock.
The Reserve Bank said that India’s FCA declined by $ 1.968 billion to $ 530.855 billion in the reporting week. Denominated in dollars, FCA also includes the effect of increase or decrease in the value of other foreign currencies such as euro, pound and yen held in foreign exchange reserves.
Gold reserves increased
by $ 135 million According to the data, the value of gold reserves also increased by $ 135 million to $ 41739 billion in the reporting week. In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) increased by $ 70 million to $ 18.370 billion. The country’s currency reserves kept in the IMF declined by $ 11 million to $ 4.99 billion.
