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India's foreign exchange reserves plunges by over $6 bn

By IANS | Published: February 12, 2021 8:30 PM

Mumbai, Feb 12 India's foreign exchange reserves declined by $6.240 billion during the week ended February 5.According ...

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Mumbai, Feb 12 India's foreign exchange reserves declined by $6.240 billion during the week ended February 5.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $583.945 billion from $590.185 billion reported for the week ended January 29.

India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $4.880 billion to $542.338 billion.

Similarly, the value of the country's gold reserves declined, by $1.327 billion to $34.967 billion.

Besides, the SDR value stood lower by $6 million at $1.503 billion.

In addition, the country's reserve position with the IMF decreased by $27 million to $5.138 billion.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: indiamumbaiReserve Bank Of IndiaInternational Monetary FundThe finance ministry of indiaMonetary policy committee of the rbiCentral board of reserve bank of indiaReserve bank of india governorImf researchIndi
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