Foreign exchange reserves down $1.763 billion to $630.19 billion

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The country’s foreign exchange reserves fell by $1.763 billion to $630.19 billion in the week ended February 11, according to RBI data.

In the previous week ended February 4, reserves had increased by $2.198 billion to $631.953 billion. It reached a lifetime high of $642.453 billion during the week ended September 3, 2021.

During the reference week, the decline in reserves was due to a decline in foreign currency holdings (FCA), a major component of overall reserves.

FCA fell $2.764 billion to $565.565 billion in the week ended Feb. 11.

Expressed in dollars, foreign currency holdings include the effect of the appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.

Gold reserves rose by $952 million to $40.235 billion in the reporting week, the data showed.

Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased by $65 million to $19.173 billion, RBI said.

The country’s reserve position with the IMF fell by $16 million to $5.217 billion in the reporting week, the data showed.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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