Edited By: Mohammad Haris
Last Updated: February 18, 2023, 10:23 IST
In October 2021, India’s foreign exchange kitty had reached an all-time excessive of $645 billion.
India’s foreign exchange reserves dropped by USD 8.319 billion to USD 566.948 billion for the week ended February 10, the RBI stated on Friday.
Falling the second consecutive week, India’s foreign exchange reserves dropped $8.32 billion to $566.95 billion for the week ended February 10, in accordance to the most recent RBI information. The foreign exchange reserves had declined $1.49 billion within the earlier week.
In October 2021, the nation’s foreign exchange kitty had reached an all-time excessive of $645 billion. The reserves have been declining because the central financial institution deploys the kitty to defend the rupee amid pressures prompted majorly by international developments. For the week ended February 10, the international forex property, a significant part of the reserves, decreased by $7.108 billion to $500.587 billion, in accordance to the Weekly Statistical Supplement launched by the RBI on Friday.
Expressed in greenback phrases, the international forex property embrace the impact of appreciation or depreciation of non-US items just like the euro, pound and yen held within the international alternate reserves.
Gold reserves decreased for the second week operating and have been $919 million down to $42.862 billion, the RBI stated. The particular drawing rights (SDRs) have been additionally down by $190 million to $18.354 billion, the RBI stated. The nation’s reserve place with the IMF was down by $102 million to $5.145 billion within the reporting week, the apex financial institution information confirmed.
(With inputs from PTI)
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