Fatuous sagacity~I
In today’s world, next to the politicians, the most powerful men and women have been the group of people who call themselves ‘economists’.
India’s foreign exchange reserves dipped lower by $160 million during the week ended December 17.
The Reserve Bank of India’s forex reserves decreased to $635.667 billion from $635.828 billion during the week ended December 10.
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India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.
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On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $645 million to $572.216 billion.
However, the value of the country’s gold reserves rose by $475 million to $39.183 billion.
The SDR value remained static at $19.089 billion, while the country’s reserve position with the IMF rose by $9 million to $5.179 billion.
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