fbpx
  Previous   Next
HomeBusinessIndia's Foreign Exchange Dip Lower By $160 Million To $635 Billion

India’s Foreign Exchange Dip Lower By $160 Million To $635 Billion

India’s foreign exchange (forex) reserves declined by 160 million to $635.66 billion due to a sharp drop in foreign currency assets, the Reserve Bank of India (RBI) data showed on Friday.

The foreign currency assets dipped by $645 million to $572.21 billion during the week ended December 17, 2021, as per the RBI’s weekly statistical supplement.

The foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. It is expressed in the US dollar.

The value of gold reserves rose by $475 million to $39.18 billion. Reserve position with the International Monetary Fund (IMF) increased by $9 million to $5.17 billion. There was no change in the special drawing rights (SDRs). It remained unchanged at $19.08 billion.

This is the third consecutive week of decline in the country’s forex reserves. The forex reserves had dropped by $77 million during the week ended December 10.

India’s forex reserves touched an all-time high of $642.45 billion in the week ended September 3, 2021.

More News

Smartphone Use And An Increase In Social Isolation Point To Decline In Mental Health of Young Adults: Report

If you are a young adult and spend a lot of time on your smartphone that it may cause a rapid decline in your...

Inflation Is One of The Top Issues In World Wide: Ipsos

Inflation has shot up the rankings to be the number one global concern in April, according to Ipsos. In March, Inflation made the top...

Two Years After Infection, Half of People Hospitalised With Covid Have At Least One Symptom: Study

Two years after getting infected with COVID-19, half of people hospitalised with the infection have at least one symptom, a follow-up study by the...

RELATED NEWS

Elon Musk Says Businesses And Governments Accounts Likely To Pay To Use Twitter

Elon Musk has said that businesses and governments may soon need to pay a “slight cost” to use Twitter just weeks after announcing he...

India Continue To Buy Russian Crude, Here Is The List Who Is Buying And Who Has Stopped

India has taken advantage of discounted prices to ramp up oil imports from Russia at a time when global energy prices have been rising. After...

Sensex Slips 460 Points, Nifty Ends Below 17,105

Indian indices at the weekend cleaned all the gains before closing lower, despite positive global cues. The week witnessed heavy turbulence due to multiple...