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Reserve Bank data raises concern, India’s foreign exchange reserves reduced by $ 3 billion

India Foreign Reserve: In the previous week ended March 19, the foreign exchange reserves had increased by $ 233 million to $ 582.271 billion.

The country’s gold reserves rose by $ 276 million to $ 34.907 billion.

The country’s foreign exchange reserves declined by $ 2.986 billion to $ 579.285 billion in the week ended 26 March. This information has been given in the data released on Friday of the Reserve Bank of India (RBI). Earlier, in the week ended March 19, the foreign exchange reserves had increased by $ 233 million to $ 582.271 billion. Earlier, in the week ended 29 January 2021, the foreign exchange reserves had touched a record high of $ 590.185 billion.

According to the Reserve Bank data, the total currency reserves have declined due to the fall in foreign exchange assets (FCA) in the week ended 26 March. Foreign currency assets constitute a significant part of the total foreign exchange reserves. According to the Reserve Bank’s weekly data, the FCA declined by $ 3.226 billion to $ 537.953 billion in the reporting period. The FCA is denominated in dollars, but includes other foreign currency assets such as Euro, Pound and N.

Boom in gold reserves

According to the Reserve Bank data, the country’s gold reserves increased by $ 276 million to $ 34.907 billion in the week under review. According to the data, the special drawing rights received by the country in the International Fund for Money (IMF) decreased by $ 9 million to $ 1.49 billion in the week under review. Similarly, the reserve reserves with the IMF also decreased by $ 27 million to $ 4.935 billion.

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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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