scorecardresearch
Tuesday, Feb 07, 2023
Advertisement
Premium

After a rise, forex reserves decline to $579.2 billion

In the previous week ended March 19, the forex kitty had increased by $233 million to $582.271 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021.

In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves.

The country’s foreign exchange reserves declined by $2.986 billion to reach $579.285 billion in the week ended March 26, RBI data showed on Friday.

In the previous week ended March 19, the forex kitty had increased by $233 million to $582.271 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021.

In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by $3.226 billion to $537.953 billion, as per weekly data by the Reserve Bank of India (RBI).

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves increased by $276 million to $34.907 billion in the reporting week, the RBI data showed.

Subscriber Only Stories
In this Bengal district, solid, plastic waste management now a people’s m...
Delhi Confidential: Looking After
India looks at options to pay defence dues to Russia: stake sale, bonds, ...
Interview with Revenue Secretary | ‘Measures for widening tax base ...

The special drawing rights with the International Monetary Fund (IMF) dipped by $9 million to $1.49 billion. The country’s reserve position with the IMF declined by $27 million to $4.935 billion in the reporting week.

First published on: 04-04-2021 at 00:53 IST
Next Story

Delhi: Man held for robbing hotel staffer

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close