The country’s foreign exchange reserves decreased for the second consecutive week, now it has come down to this billion dollars

Forex Reserves - India TV Paisa
Photo: PTI foreign exchange reserves

country’s foreign exchange reserves declined by $5.681 billion to $561.267 billion in the week ended February 17. The Reserve Bank of India (RBI) gave this information on Friday. Foreign exchange reserves declined for the third consecutive week. Due to this, the currency reserves had decreased by $ 8.319 billion to $ 566.948 billion in the previous week. Earlier in October 2021, the country’s foreign exchange reserves had reached an all-time high of US $ 645 billion. It declined later as the central bank used reserves to counter a sharp fall in the rupee’s exchange rate amid global developments.

Gold reserves fall for the third consecutive week

Expressed in dollars, foreign currency assets also include the effects of movements in non-US currencies such as the euro, pound and yen. The Reserve Bank said that the decline in gold reserves continued for the third consecutive week and the value of gold reserves declined by $ 1.045 billion to $ 41.817 billion in the week under review. As per the data, the Special Drawing Rights (SDRs) declined by $87 million to $18.267 billion. The country’s reserve position with the International Monetary Fund (IMF) declined by $34 million to $5.111 billion during the week under review.

Latest Business News

Leave a Reply

Your email address will not be published. Required fields are marked *