Forex Reserves Decreased By USD 1.47 Billion To USD 639.64 Billion

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finance

Summary

As per the RBI data, the foreign exchange reserves of the nation decreased by 1.47 billion to USD 639.642 billion in the week ended September 17. Know more.

Press Release

The latest data showed by RBI highlights the nation’s decreased foreign exchange reserves by USD 1.47 billion to USD 639.642 billion in the week ended September 17. As far as the concern about the previous week ended September 10, 2021, the reserves had decreased by USD 1.34 billion to USD 641.113 billion. The reserves had flooded by USD 8.895 billion to a lifetime high of USD 642.453 billion in the week finished September 3, 2021. 

During the week ended September 17, 2021, the decrease in the Forex kitty was fundamentally on account of a decrease in the foreign currency asset (FCAs), a significant part of the overall reserves.

FCAs dropped by USD 892 million to USD 577.986 billion, as shown by the weekly data by RBI (Reserve Bank of India).

Shown in Dollar terms, the foreign currency assets incorporate the impact of appreciation or depreciation of non-US units, such as the Euro, pound, and yen held in the foreign exchange reserves.

Gold reserves decreased by USD 567 million to USD 37.103 billion in the reporting week, as per the data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) decreased by USD 4 million to USD 19.434 billion.

The nation’s reserve position with the IMF also decreased by USD 8 million to USD 5.119 billion in the reporting week, as per the data.

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