The country’s foreign exchange reserves have decreased for the second consecutive week. In the week ended March 18, 2022, it declined by $ 2.597 billion to $ 619.678 billion. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.
Earlier, in the week ended March 11, it declined by $ 9.646 billion to $ 622.275 billion, while in the week ended March 4, the foreign exchange reserves had increased by $ 394 million to $ 631.92 billion. In the week ended February 25, the country’s foreign exchange reserves fell by $ 1.425 billion to $ 631.527 billion.
FCA down by $703 million
According to the weekly data released by RBI on Friday, this fall in foreign exchange reserves in the week ended March 18 was mainly due to the decrease in foreign currency assets (Foreign Currency Assets), which is a significant part of the total currency reserves. Is. The Reserve Bank said that in the reporting week, India’s FCA declined by $ 70.3 million to $ 553.656 billion. 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 reserve reduced
Apart from this, the value of gold reserves decreased by $ 1.831 billion to $ 42.011 billion in the reporting week. In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) decreased by $ 62 million to $ 18.865 billion. The country’s currency reserves kept in the IMF remained unchanged at $5.146 billion.