Mumbai: The country’s foreign exchange reserves declined by $ 1.581 billion to $ 611.149 billion in the week ended July 23, 2021. This information has been given in the data released on Friday by the Reserve Bank of India i.e. RBI.
According to the data of the Reserve Bank of India, in the previous week ended July 16, foreign exchange reserves had increased by $ 835 million to a record high of $ 612.73 billion. Foreign exchange reserves had increased by $ 1.883 billion to $ 611.895 billion in the week ended July 9. In the week ended July 2, foreign exchange reserves had increased by $ 1.013 billion to $ 610.012 billion.
FCA down by $1.12 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 FCA (Foreign Currency Assets), which is a major component of the overall reserves. During this period, FCA declined by $ 1.12 billion to $ 567.628 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.
Gold reserves fall by $ 449 million
According to the data, during this period, gold reserves fell by $ 449 million to $ 36884 billion. At the same time, the SDR (Special Drawing Rights) with the International Monetary Fund (IMF) decreased by $ 3 million to $ 1.546 billion. The Reserve Bank said that during the reporting week, India’s foreign exchange reserves with the IMF also declined by $ 9 million to $ 5.091 billion.
