Huge decline in foreign exchange reserves after almost four months! 5.4 billion dollar decline
At the same time, Special Drawing Rights (SDR) increased by $121 million to $18.282 billion and the reserve fund with the International Monetary Fund (IMF) increased by $18 million to $4.638 billion. Such a huge decline in foreign exchange reserves has been seen after almost four months. Earlier, in the week ending April 12, it had decreased by $ 5.4 billion. Foreign exchange reserves are a key indicator of a country's economy. Its high level makes it easier for the country to import essential goods.
Business News - 16 August (INS). The country's foreign exchange reserves declined by $4.8 billion to $670.119 billion in the week ending August 9. Earlier, in the week ending August 2, it was at a record level of $ 674.919 billion with a huge increase of $ 7.533 billion.
Reserve Bank of India (RBI) data released on Friday said that during the week under review, foreign currency assets, the largest component of foreign exchange reserves, declined by $ 4.079 billion to $ 587.96 billion. Gold reserves have also declined by $860 million to $59.239 billion.
At the same time, Special Drawing Rights (SDR) increased by $121 million to $18.282 billion and the reserve fund with the International Monetary Fund (IMF) increased by $18 million to $4.638 billion.
Such a huge decline in foreign exchange reserves has been seen after almost four months. Earlier, in the week ending April 12, it had decreased by $ 5.4 billion.
Foreign exchange reserves are a key indicator of a country's economy. Its high level makes it easier for the country to import essential goods.
What's Your Reaction?
