Powered by: Motilal Oswal
20/02/2021 9:34:02 AM | Source: IANS
India`s foreign exchange reserves slip by $249 mn
News By Tags | #248 #139 #126
India`s foreign exchange reserves slip by $249 mn

India's foreign exchange reserves declined by $249 million during the week ended February 12.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $583.697 billion from $583.945 billion reported for the week ended February 5.

India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.387 billion to $540.951 billion.

However, the value of the country's gold reserves increased by $1.260 billion to $36.227 billion.

Besides, the SDR value stood higher by $10 million at $1.513 billion.

Nonetheless, the country's reserve position with the IMF decreased by $132 million to $5.006 billion.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here