गिरावट के लगातार दूसरे सप्ताह में, भारत का विदेशी मुद्रा भंडार 2.28 अरब डॉलर घटकर 640.33 अरब डॉलर रह गया।

गिरावट के लगातार दूसरे सप्ताह में, भारत का विदेशी मुद्रा भंडार 2.28 अरब डॉलर घटकर 640.33 अरब डॉलर रह गया।

In second consecutive week of decline, India’s forex reserves drop $2.28 billion to $640.33 billion.

India's forex reserves drop for the second week to USD 640.334 billion on April 19.

  • Business
  • 295
  • 26, Apr, 2024
Jyoti Ahlawat
Jyoti Ahlawat
  • @JyotiAhlawat

In second consecutive week of decline, India’s forex reserves drop $2.28 billion to $640.33 billion.

India’s foreign exchange reserves fell by USD 2.282 billion to USD 640.334 billion for the seven-day period ending April 19, marking the second consecutive week of decline, as announced by the Reserve Bank of India (RBI) on Friday.

In the previous reporting week, the reserves had decreased by USD 5.401 billion to USD 643.162 billion, ending a streak of weeks during which the reserves had been increasing. This period had seen the overall reserves reaching a new all-time high of USD 648.562 billion for the week ending April 5.

In September 2021, India's foreign exchange reserves had peaked at USD 642.453 billion, a level surpassed in March of the current year. The reserves faced depletion as the central bank utilized them to support the rupee amidst pressures primarily stemming from global events. However, there had been a consistent accumulation over the past few months.

For the week ending April 19, the foreign currency assets, a significant component of the reserves, declined by USD 3.793 billion to USD 560.86 billion, as per the data released on Friday. The foreign currency assets, when expressed in dollar terms, factor in the impact of appreciation or depreciation of non-US currencies such as the euro, pound, and yen held within the foreign exchange reserves.

Meanwhile, gold reserves continued to climb, rising by USD 1.01 billion to USD 56.808 billion during the week, as stated by the RBI. Special Drawing Rights (SDRs) experienced a decrease of USD 43 million, settling at USD 18.034 billion, according to the central bank.

India's reserve position with the IMF also saw a decline of USD 2 million, reaching USD 4.631 billion in the reporting week, as per the apex bank's data.

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Jyoti Ahlawat

Jyoti Ahlawat

  • @JyotiAhlawat