Foreign exchange reserves touch historic high of $651.5 billion
The Governor expressed confidence that the central bank was well-positioned to meet the country’s external financing requirements comfortably.
Country’s foreign exchange reserves declined by $2.939 billion, during the week ended August 14, RBI data showed.
According to the Reserve Bank of India’s weekly statistical supplement, the reserves fell to $535.252 billion from $538.191 billion reported for the week ended August 7.
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India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).
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FCAs, the largest component of the forex reserves, edged lower by $743 million to $491.550 billion, the central bank data showed.
Similarly, the value of the country’s gold reserves decreased by $2.190 billion to $37.595 billion. The SDR value slipped by $2 million to $1.479 billion.
In addition, the country’s reserve position with the IMF declined by $4 million to $4.628 billion.
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