foreign exchange reserves have fallen further
According to information received from the Reserve Bank of India, during the week ended August 5, 2022, the country’s foreign exchange reserves decreased to $572.978 billion. Earlier, in the week ended July 29, its foreign exchange reserves increased by $2.4 billion to $573.875 billion. Previously, the country’s foreign exchange reserves had shrunk for four straight weeks.
Currency holdings also fell
The main reason for the decline in foreign exchange reserves during the week ended August 5 is the occurrence of foreign currency assets. It is an important part of total foreign exchange reserves. Foreign exchange assets (FCA) fell by $1.611 billion to $509.646 billion in the week under review, according to weekly data for India released by the RBI on Friday. Foreign currency assets held in foreign exchange reserves, expressed in dollars, include the effects of the appreciation or depreciation of non-US currencies such as the euro, pound and yen.
increase in gold reserves
According to the data, the value of gold reserves increased by $671 million to $40.313 billion during the week under review.
The DTS also increased
During the reporting week, Special Drawing Rights (SDR) deposits with the International Monetary Fund (IMF) increased by $46 million to $18.031 billion. While the country’s foreign exchange reserves kept at the IMF decreased by $3 million to $4.987 billion.
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