HomeLifestyleForex Reserves: The country's foreign exchange reserves continue to decline, know how...

Forex Reserves: The country’s foreign exchange reserves continue to decline, know how much is the gold reserve

Highlights

Forex reserves down $7.541 billion to $572.712 billion
Gold reserves fall by $ 83 million
Foreign currency assets decreased by $ 6.527 billion

New Delhi. The country’s foreign exchange reserves have declined again. It declined by $7.541 billion to $572.712 billion in the week ended July 15, 2022. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.

According to RBI data, during the week ended July 8, forex reserves declined by $8.062 billion to $580.252 billion. Earlier, in the week ending July 1, 2022, it had come down by $ 5.008 billion to $ 588.314 billion.

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FCA down by $6.527 billion
According to the weekly data released by the RBI on Friday, this decline in forex reserves in the week ended July 15 was mainly due to the reduction in Foreign Currency Assets (Foreign Currency Assets), which is a significant part of the total currency reserves. Is part of. The Reserve Bank said that India’s FCA declined by $ 6.527 billion to $ 511.562 billion in the reporting week. FCAs, expressed in dollars, also include the effect of increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.

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Gold reserve also decreased
Apart from this, the value of gold reserves decreased by $ 83 million to $ 38.356 billion in the reporting week. In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) decreased by $ 155 million to $ 17.857 billion. The country’s currency reserves kept in the IMF also declined by $ 29 million to $ 4.937 billion.

Tags: gold, RBI, Reserve Bank of India

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