India’s foreign exchange reserves declined by $2.164 billion to $584.248 billion in the week ended April 21, the Reserve Bank said. , Photo Credit: V. Sudarshan
India’s foreign exchange reserves declined by $2.164 billion to $584.248 billion in the week ended April 21, the Reserve Bank said on April 28.
In the last reporting week, the overall kitty was increased by $ 1.657 billion to $ 586.412 billion, It is noteworthy that in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion. Reserves are declining as the central bank deploys kitty to protect the rupee amid pressure mainly due to global growth.
Foreign currency assets, a major component of reserves, declined by $2.146 billion to $514.489 billion for the week ended April 21, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, 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.
RBI said that the gold reserves decreased by $ 24 million to $ 46.151 billion.
The apex bank said special drawing rights (SDRs) rose by $19 million to $18.431 billion.
The country’s reserve position with the IMF declined by $14 million to $5.176 billion in the week under review, data from the apex bank showed.