Forex Reserves Rise by $1.739 Billion to $582.037 Bn

[ad_1]

Read More/Less


The country’s foreign exchange reserves increased by $ 1.739 billion to $ 582.037 billion in the week ended on March 12, the RBI data showed. In the previous week ended March 5, the reserves had declined by $ 4.255 billion to $ 580.299 billion. The reserves had touched a record high of $ 590.185 billion in the week ended January 29, 2021.

In the reporting week ended March 12, the rise in reserves was on account of an increase in foreign currency assets (FCA), a major component of the overall reserves. FCA rose by $ 1.409 billion to $ 541.022 billion, Reserve Bank of India’s (RBI) weekly data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

After declining in the last week, the gold reserves increased by $ 336 million to $ 34.551 billion in the report week. The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $ 4 million to $ 1.501 billion in the reporting week. The country’s reserve position with the IMF declined by $ 2 million to $ 4.963 billion in the reporting week, the data showed.

[ad_2]

READ FULL ARTICLE HERE

Forex reserves fall by $4.255 billion to $580.299 billion – Times of India

[ad_1]

Read More/Less


MUMBAI: The country’s foreign exchange reserves declined by $4.255 billion to $580.299 billion in the week ended March 5, according to RBI data.
In the previous week ended February 26, the reserves rose by $689 million to $584.554 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021.
In the reporting week ended March 5, the fall in reserves was due to a decline in the Foreign Currency Assets (FCA).
The FCA dipped by $3.002 billion to $539.613 billion, the Reserve Bank of India’s (RBI) weekly data showed.
Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
The gold reserves declined by $1.206 billion to $34.215 billion in the reporting week, as per the data.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) fell by $11 million to $1.506 billion in the reporting week.
The country’s reserve position with the IMF also declined by $36 million to $4.965 billion in the reporting week, the data showed.

[ad_2]

READ FULL ARTICLE HERE