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Wednesday, December 01, 2021

Slide in currency assets pulls down reserves to $640 bn

In the week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), RBI data released on Friday showed.

By: ENS Economic Bureau | New Delhi |
October 31, 2021 3:30:49 am
India’s reserve position with the IMF rose $10 million to $5.240 billion in the reporting week, as per RBI. (File)

The nation’s forex reserves fell by $908 million during the week ended October 22 to reach $640.1 billion, according to data from the Reserve Bank of India (RBI). During the week ended October 15, the foreign exchange, or forex, reserves had increased by $1.492 billion to $641.008 billion.

In the week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), RBI data released on Friday showed.

FCA declined by $853 million to $577.098 billion in the reporting week, the data showed. Gold reserves were down by $138 million to $38.441 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by $74 million to $19.321 billion.

India’s reserve position with the IMF rose $10 million to $5.240 billion in the reporting week, as per RBI.

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