The statistics revealed that during the reporting week, the country’s foreign exchange reserves decreased due to a decline in both the country’s gold reserves and its foreign current assets (FCAs). FCAs are a significant component of the total reserves.
According to figures provided by the RBI, the value of the country’s foreign exchange reserves dropped by 5.87 billion USD to reach 590.588 billion USD by the conclusion of the week ending June 17.
The previous week, which concluded on June 10, saw the reserves decrease by 4.599 billion USD, bringing the total down to 596.458 billion USD.
The statistics revealed that during the reporting week, the country’s foreign exchange reserves decreased due to a decline in both the country’s gold reserves and its foreign current assets (FCAs). FCAs are a significant component of the total reserves.
According to the Weekly Statistical Supplement that was made available by the Reserve Bank of India (RBI) on Friday, it was revealed that the FCA dropped by 5.362 billion USD to reach 526.882 billion USD.
The value of the foreign currency assets, when expressed in terms of dollars, takes into account the effect of the appreciation or depreciation of non-US units such as the euro, pound, and yen that are held in the foreign exchange reserves.
The value of gold reserves decreased by USD 258 million, reaching a total of USD 40.584 billion.
During the week that concluded on June 17, the special drawing rights (SDRs) held by the International Monetary Fund (IMF) decreased by 233 million US dollars to a total of 18.155 billion US dollars.
According to the statistics, during the reporting week, the country’s reserve position with the IMF decreased by USD 17 million, bringing the total down to USD 4.968 billion.