Foreign exchange reserves increased by $2.82 billion, reaching a total of $606.86 billion.
Explore the latest financial update as foreign exchange reserves experience a notable uptick, rising by $2.82 billion and reaching a robust total of $606.86 billion.
As per the Weekly Statistical Supplement published by the RBI, Foreign Currency Assets (FCAs) rose by $3.09 billion, reaching $536.70 billion. The FCAs, denominated in dollars, encompass the impact of the appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves.
Gold reserves saw a decline of $199 million, settling at $47.13 billion, while Special Drawing Rights (SDRs) decreased by $63 million to $18.19 billion.
The Reserve position in the IMF experienced a decrease of $11 million, reaching $4.84 billion.
It is noteworthy that in October 2021, the country's forex reserves had achieved an all-time high of USD 645 billion. The reserves have been decreasing as the central bank utilizes the reserves to safeguard the rupee in response to pressures primarily induced by global developments.
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