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India’s foreign exchange reserves dip by $4.85 bn; hit lowest stage since July 2020

Mumbai (Maharashtra) [India], October 8 (ANI): India’s international change (foreign exchange) reserves slumped by $4.854 billion to $532.664 billion for the week ended September 30, the bottom stage since July 2020, because the Reserve Bank of India (RBI) used its kitty to defend the rupee, which has hit file lows.

This is the bottom stage of India’s foreign exchange reserves since July 24, 2020.

The foreign exchange reserves had slumped by $8.134 billion throughout the week ended September 23, 2022, the earlier reporting week.

As per the Reserve Bank of India’s weekly statistical complement, international forex property, that are the largest element of the foreign exchange reserves, dipped by $4.406 billion to $472.807 billion throughout the week ended September 30.

Expressed in US dollar phrases, the international forex property 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 dropped by $281 million to $37.605 billion throughout the week ended September 30.

The worth of India’s Special Drawing Rights (SDRs) with the International Monetary Fund declined by $167 million to $17.427 billion throughout the week below overview, the RBI knowledge confirmed.

However, India’s reserve place within the International Monetary Fund (IMF) remained unchanged at $4.826 billion throughout the week ended September 30, as per the RBI Weekly Statistical Supplement. (ANI)

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