MUMBAI: India’s foreign exchange reserves fell by $1.152 billion to $571.56 billion in the week ended July 22, it said RBI Data.
Reserves have declined given the continued volatility of the rupee, which has also depreciated significantly against the US dollar.
In the previous reporting week, total reserves had decreased by $7.541 billion to $572.712 billion.
The rupee’s defense amid pressures from rising interest rates in developed markets, high commodity prices and foreign portfolio investment outflows has led to a sharp decline in foreign exchange assets, which hit an all-time high of $642 billion in September 2021.
Foreign currency assets fell by US$1.426 billion to US$510.136 billion in the reporting week ended July 22, the Reserve Bank of India (RBI) said in its weekly report published on Friday.
In dollar terms, foreign currency investments include the effect of the appreciation or depreciation of non-US entities such as the euro, pound and yen held in foreign exchange reserves.
The value of gold reserves increased by $145 million to $38.502 billion top bench said.
The Special Drawing Rights (SDR) at the International Monetary Fund (IMF) rose by $106 million to $17.963 billion.
The country’s reserve position with the IMF increased by $23 million to $4.96 billion during the week, data showed.
Reserves have declined given the continued volatility of the rupee, which has also depreciated significantly against the US dollar.
In the previous reporting week, total reserves had decreased by $7.541 billion to $572.712 billion.
The rupee’s defense amid pressures from rising interest rates in developed markets, high commodity prices and foreign portfolio investment outflows has led to a sharp decline in foreign exchange assets, which hit an all-time high of $642 billion in September 2021.
Foreign currency assets fell by US$1.426 billion to US$510.136 billion in the reporting week ended July 22, the Reserve Bank of India (RBI) said in its weekly report published on Friday.
In dollar terms, foreign currency investments include the effect of the appreciation or depreciation of non-US entities such as the euro, pound and yen held in foreign exchange reserves.
The value of gold reserves increased by $145 million to $38.502 billion top bench said.
The Special Drawing Rights (SDR) at the International Monetary Fund (IMF) rose by $106 million to $17.963 billion.
The country’s reserve position with the IMF increased by $23 million to $4.96 billion during the week, data showed.
