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Foreign exchange reserves decline to $564.053 billion

According to figures from the Reserve Bank of India (RBI), the nation's foreign exchange reserves decreased by USD 6.687 billion to USD 564.053 billion in the week ending August 19.

August 26, 2022 / 06:29 PM IST

The country's foreign exchange reserves fell USD 6.687 billion to USD 564.053 billion in the week ended August 19, according to the Reserve Bank of India (RBI) data. In the previous week ended August 12, the reserves declined USD 2.238 billion to USD 570.74 billion.

The drop in the reserves during the week ended August 19 was due to a fall in the Foreign Currency Assets (FCA) and the gold reserves, as per the Weekly Statistical Supplement released by RBI on Friday. FCA fell USD 5.779 billion to USD 501.216 billion in the reporting week.

Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves declined USD 704 million to USD 39.914 billion, the data showed.

The Special Drawing Rights (SDRs) decreased USD 146 million to USD 17.987 billion. The country's reserve position with the IMF also fell USD 58 million to USD 4.936 billion in the reporting week.

 
PTI
first published: Aug 26, 2022 06:29 pm
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