Mumbai (Maharashtra) [India], September 17 (ANI): India’s international change (foreign exchange) reserves dropped by $2.234 billion to $550.871 billion for the week ended September 9, the bottom stage in two years, the Reserve Bank of India (RBI) information confirmed.
This is the sixth weekly fall within the nation’s foreign exchange reserves. The foreign exchange reserves had dropped by $7.941 billion throughout the week ended September 2.
India’s foreign exchange reserves have dropped by virtually $80 billion since this escalation of the Russia-Ukraine tensions into battle earlier this 12 months.
As per the Reserve Bank of India’s weekly statistical complement, international forex belongings, that are the largest element of the foreign exchange reserves, dipped by $2.519 billion to $489.598 billion throughout the week ended September 9. The international forex belongings had declined by $6.527 billion within the earlier week.
Expressed in US dollar phrases, the international forex belongings embody the impact of appreciation or depreciation of non-dollar currencies like Euro, UK’s Pound Sterling and Japanese Yen held within the international change reserves.
The worth of gold reserves rose by $340 million to $38.644 billion throughout the week ended September 9. The worth of gold reserves had declined by $1.339 billion within the earlier week.
The worth of India’s Special Drawing Rights (SDRs) with the International Monetary Fund declined by $63 million to $17.719 billion throughout the week beneath evaluation, the RBI information confirmed.
India’s reserve place within the International Monetary Fund (IMF) elevated by $8 million to $4.910 billion throughout the week ended September 9, as per the RBI Weekly Statistical Supplement. (ANI)