Mumbai: After reaching a record level, the country’s foreign exchange reserves declined by $ 2.099 billion to $ 619.365 billion in the week ended August 13, 2021. This information has been given in the data released on Friday by the Reserve Bank of India i.e. RBI. Earlier, in the week ended August 6, 2021, $ 889 million rose to a record high of $ 621.464 billion.
According to the data of the Reserve Bank of India, in the week ended July 30, 2021, it had increased by $ 9.427 billion to a record high of $ 620.576 billion. In the week ended July 23, $ 1.581 billion was reduced to $ 611.149 billion.
FCA down $1.358 billion
According to the weekly data of the Reserve Bank. The reason for the decline in foreign exchange reserves in the reporting week is the reduction in foreign currency assets i.e. FCA (Foreign Currency Assets), which is a major component of the overall reserves. During this period, FCA declined by $ 1.358 billion to $ 576.374 billion. FCAs, expressed in dollar terms, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound, and yen held in foreign exchange reserves.
$72 million falls in gold reserves
According to the data, during this period gold reserves increased by $ 720 million to $ 36.336 billion. At the same time, the SDR (Special Drawing Rights) with the International Monetary Fund (IMF) decreased by $ 7 million to $ 1.544 billion. The Reserve Bank said that during the reporting week, India’s foreign exchange reserves with the IMF declined from $ 14 million to $ 5.111 billion.
