Forex Reserve Slips: The decline in the country's foreign exchange reserves started again, reaching here down by $ 300 million
For the week ended june 3, the forex reserves fell to $ 601.057 billion. According to the reserve bank of india (RBI) data, it has decreased by $ 306 million. Foreign currency assets (FCAs) declined by $208 million to $536.779 billion in the week under review.
The country's foreign exchange reserves have once again declined. For the week ended june 3, the forex reserves fell to $ 601.057 billion. According to the reserve bank of india (RBI) data, it has decreased by $ 306 million. Significantly, in the previous week, foreign exchange reserves had increased by $ 3.854 billion to $ 601.363 billion, while it had increased by $ 4.23 billion to $ 597.509 billion in the week ended May 20.
It is a matter of relief that even after the decline, at present, the foreign exchange reserves remain above $ 600 billion. Let us tell you that before this, due to the decline of 10 consecutive weeks, it was below the figure of $ 600 billion for a month. But, it picked up during the week ending May 20 and 27. The reason for the decline in foreign exchange reserves in the reporting week is due to the decline in foreign currency assets, which form a significant component of the total reserves.
According to the data, foreign currency assets (FCAs) declined by $ 208 million to $ 536.779 billion in the reporting week. Foreign currency assets held in foreign exchange reserves, expressed in dollars, include the effects of appreciation or depreciation in non-US currencies such as the euro, pound, and yen. RBI said the Special Drawing Rights (SDR) with the international Monetary Fund (IMF) declined by $28 million to $18.41 billion.
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