In the week before, ending March 4, reserves rose $394 million to $631.92 billion. It reached a lifetime high of $642.453 billion in the week ending September 3, 2021.

The country’s foreign exchange reserves declined $9.646 billion to $622.275 billion in the week ended March 11, according to the latest data from the RBI.
In the week before, ending March 4, reserves rose $394 million to $631.92 billion. It reached a lifetime high of $642.453 billion in the week ending September 3, 2021.

During the reporting week, the decline in reserves was the result of a decline in foreign currency assets (FCA), a major component of total reserves, the Reserve Bank of India (RBI) weekly data shows. were released on Friday.

FCA fell USD 11.108 billion to USD 554,359 billion in the week ended March 11.
Expressed in dollars, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.

Gold reserves rose USD 1,522 billion in the reporting week to USD 43,842 billion, the data shows.

Special drawing rights (SDRs) at the International Monetary Fund (IMF) fell $53 million to $18.928 billion, the RBI said.
The country’s reserve position with the IMF fell $7 million in the reporting week to $5.146 billion, the data shows.


This post Forex reserves fall by USD 9.65 billion to USD 622.27 billion was original published at “https://www.financialexpress.com/economy/forex-reserves-decline-usd-9-65-bn-to-usd-62227-bn/2464964/”

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