Forex reserves fall to over 7-month-low, current account deficit moderates: RBI
The foreign exchange reserves fell for a third consecutive week as of December 20, data from the Reserve Bank of India said on Friday.
The foreign exchange reserves fell for a third consecutive week as of December 20, data from the Reserve Bank of India said on Friday.
India's forex reserves dropped by USD 3.235 billion to USD 654.857 billion for the week ending December 6.
India joined the ranks of the world's largest foreign exchange reserves, securing the 4th position globally after China, Japan, and Switzerland.
During the week, India's foreign currency assets (FCA), the biggest component of the forex reserves, rose by USD 5.186 billion to USD 551.331 billion, the central bank's weekly statistical data showed.
India's foreign currency assets (FCA), the biggest component of the forex reserves, rose USD 8.349 billion to USD 545.048 billion
FCAs, the largest component of the forex reserves, edged lower by $631.6 million to $367.86 billion during the week ended December 14.
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