Foreign exchange reserves decline from $ 908 million to $ 640.1 billion, data shows

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The country’s foreign exchange reserves declined by $ 908 million to $ 640.1 billion in the week ended Oct. 22, according to RBI data.

During the previous week ended Oct. 15, reserves had increased by $ 1.492 billion to $ 641.08 billion. Reserves had reached a lifetime high of $ 642.453 billion in the week ended September 3, 2021.

During the reporting week ended October 22, the decline in reserves was due to a decline in foreign exchange assets (FCA), a major component of overall reserves, and gold reserves, according to weekly data from the Reserve Bank of India (RBI) published. on Friday showed.

The FCA fell $ 853 million to $ 577.098 billion in the week of the report, the data showed.

Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves.

Gold reserves declined by $ 138 million to $ 38.441 billion in the week of the report, the data showed.

Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by $ 74 million to $ 19.321 billion.

The country’s reserve position with the IMF increased by $ 10 million to $ 5.240 billion during the week of the report, the data showed.

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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