This is the main reason for the decrease in foreign exchange reserves
The Reserve Bank of India (RBI) has said that during the week ended April 8, 2022, foreign exchange reserves had declined by $ 2.471 billion to $ 604.004 billion. According to RBI’s weekly data, the fall in forex reserves is due to depreciation of foreign currency assets. It forms a significant part of the total foreign exchange reserves. FCA declined by $877 million to $536.768 billion.
Forex assets include this currency
These figures include the effects of appreciation or depreciation in non-US currencies such as the euro, pound and yen on foreign currency assets held in foreign exchange reserves, expressed in dollars. During the week under review, India’s gold reserve increased by $ 626 million to $ 43.145 billion.
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decrease in SDR
In the past week, special drawing rights or special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $44 million to $18.694 billion. India’s foreign exchange reserves kept with the IMF have come down by $ 16 million to the level of $ 5.086 billion.
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