RBI report: country’s foreign exchange reserves fall, gold reserves also decrease

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Last year, even though India was in a strong position in the foreign exchange reserves. But in the week ending April 2, 2021, it saw a decline. It has decreased by $ 2.415 billion to reach $ 576.869 billion.

Foreign exchange reserves

Due to Corona epidemic, there was a big decline in fuel consumption. At the same time, India’s position in foreign exchange reserves was also not good. According to the data released by the RBI on Friday, the country’s foreign exchange reserves decreased by $ 2.415 billion to $ 576.869 billion in the week ending April 2. Apart from this, the country’s gold reserves also decreased by $ 884 million to $ 34.023 billion in the week under review.

According to the Reserve Bank data, on April 2, 2021, the decline in the country’s foreign exchange reserves was seen due to the fall in foreign exchange assets (FCA). Earlier, in the week ended March 26, the foreign exchange reserves had decreased by $ 2.986 billion to $ 579.285 billion.

Gold reserve also decreased

During the week under review, the gold reserves of the country also declined. According to the RBI data, it was reduced by $ 884 million to $ 34.023 billion. The special drawing rights received in the International Mundra Fund (IMF) decreased by $ 4 million to $ 1.486 billion. Similarly, the reserve reserves with the IMF also decreased by $ 12 million to $ 4.923 billion.

There was a boom in the beginning of the year

During the week ended in January last year, India’s foreign exchange reserves had seen a boom. This was increased to $ 461.21 billion with an increase of $ 58 million. India was ranked 8th in the list of countries with the highest foreign exchange reserves in the world. While China was first on this list.

(With language input)

Also read: Fuel consumption shows the biggest decline after 22 years, 9.1% decrease Consumption

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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