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Wednesday, May 5, 2021

Foreign exchange reserves down by $6.24 billion to $583.945 billion – Instances of India

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MUMBAI: The nation’s foreign exchange reserves declined by an enormous $6.24 billion to achieve $583.945 billion within the week ended February 5, Reserve Financial institution of India (RBI) information confirmed on Friday.
Within the earlier week, the reserves had touched a document excessive of $590.185 billion after rising by $4.852 billion.
Within the reporting week ended February 5, the decline within the foreign exchange kitty was primarily on account of a fall in overseas foreign money property (FCAs), a serious part of the general reserves.
FCAs decreased by $44.88 billion to $542.338 billion, weekly information from the RBI confirmed.
Expressed in greenback phrases, the overseas foreign money property embrace the impact of appreciation or depreciation of non-US models just like the euro, pound and yen held within the foreign exchange reserves.
The gold reserves decreased by $1.327 billion to $34.967 billion within the reporting week.
The particular drawing rights (SDRs) with the Worldwide Financial Fund (IMF) dipped by $6 million to $1.503 billion.
The nation’s reserve place with the IMF additionally declined by $27 million to $5.138 billion within the reporting week, as per the info.

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