India Forex Reserves: Continuous decline in foreign exchange reserves, this time it decreased to 586.91 billion dollars.

India Forex Reserves: Continuous decline in foreign exchange reserves, this time it decreased to 586.91 billion dollars.

India Forex Reserves: The trend of decline in India’s foreign exchange reserves continues and the same is visible in the figures of foreign exchange reserves released today. The Reserve Bank of India (RBI) has informed on Friday that the country’s foreign exchange reserves have declined by $ 3.794 billion to $ 586.908 billion in the week ending September 29.

Reserve Bank of India released data

Today this figure was also told in the Monetary Policy Committee (RBI MPC) of RBI that the country’s foreign exchange reserves have come down to 586.908 billion dollars in the week ending September 29. In the previous week, the total currency reserves of the country were at 590.702 billion dollars with a decline of 2.335 billion dollars. The value of the country’s gold reserves has declined by $576 million to $43.731 billion.

The country’s foreign exchange reserves were the highest in October 2021

In October 2021, the country’s foreign exchange reserves had reached the highest level of $645 billion. However, last year, amid the pressures arising from global developments, the RBI had used this capital reserve to stop the fall in the exchange rate of the rupee, due to which there has been a decline in the foreign exchange reserves. 

A decline was also seen in foreign currency assets

According to the weekly data of the Reserve Bank, in the week ending September 29, foreign currency assets, an important part of the foreign exchange reserves, decreased by $ 3.127 billion to $ 520.236 billion.

According to the data, Special Drawing Rights (SDR) have declined by $74 million to $17.939 billion. In the week ending September 29, the country’s currency reserves kept with the International Monetary Fund (IMF) decreased by $ 18 million to $ 5.002 billion. Foreign currency assets expressed in dollar terms also include the impact of fluctuations in non-US currencies such as the euro, pound and yen.

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