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Forex reserves slide to $600.423 billion in April

by Nick Erickson
April 29, 2022
in Business
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The country’s foreign exchange reserves have fallen to $600.423 billion

Bombay:

The country’s foreign exchange reserves fell $3.271 billion to $600.423 billion in the week ending April 22, data from the Reserve Bank of India (RBI) shows.

In the previous week, reserves had fallen $311 million to $603.694 billion.

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, and gold reserves, the Reserve Bank of India (RBI) weekly data shows. released on Friday. showed.

FCA fell $2.835 billion to $53.933 billion in the week ended April 22.

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.

According to the data, gold reserves fell $377 million to $42.768 billion in the week under review.

Special drawing rights (SDRs) with the International Monetary Fund (IMF) fell $33 million to $18.662 billion, RBI said.

According to the data, the country’s reserve position at the IMF fell by $26 million in the week under review to $5.60 billion.

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