India’s Foreign Exchange Reserves Declined By $1.425 Billion

The country’s foreign exchange reserves declined by $1.425 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.

According to the data released by the RBI, the major reason for fall in foreign exchange reserves, due to the decline in foreign currency assets (FCA). During the week under review, FCAs declined by $2.228 billion. Whereas, the Special Drawing Rights (SDR) with the International Monetary Fund (IMF) declined by $12.2 crore. The country’s currency reserves kept with the IMF declined by $3.4 crore. However, the country’s gold reserves rose by $95.8 million for the week ended February 25.