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Forex reserves fall to $634.29 bn

Source: PTI
January 28, 2022 20:34 IST
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The country's foreign exchange reserves declined by $678 million to $634.29 billion in the week ended January 21, according to RBI data.

In the previous week ended January 14, the reserves had increased by $2.23 billion to $634.96 billion.

It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.

 

During the reporting week ended January 21, the dip in the reserves was on account of a drop in the Foreign Currency Assets (FCA), a major component of the overall reserves, as per the Reserve Bank of India's (RBI) weekly data released on Friday.

FCA declined by $1.15 billion to $569.58 billion in the reporting week.

Expressed in dollar terms, FCA include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $567 million to $40.34 billion in the reporting week, the data showed.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) declined by $68 million to $19.15 billion.

The country's reserve position with the IMF also dipped by $22 million to $5.22 billion in the reporting week, the data showed.

Photograph: Dado Ruvic/Reuters

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