Forex Reserve: India’s foreign exchange reserves have declined again and due to this the country’s forex reserve has come down to $654.86 billion. The country’s foreign exchange reserves declined by $3.23 billion to $654.86 billion in the week ending December 6. The Reserve Bank of India has given this information on Friday. Due to this, in the last week, the country’s foreign exchange reserves had increased by 1.51 billion dollars to 658.09 billion dollars.
Foreign exchange reserves crossed 700 dollars at the end of September
At the end of September, foreign exchange reserves had reached the highest level of $ 704.88 billion. According to Reserve Bank data, India’s reserves with the International Monetary Fund (IMF) have increased by $ 12 million to $ 4.27 billion in the week ending December 6.
FCA also saw decline
According to the data released by the Reserve Bank on Friday, Foreign Currency Assets (FCA), considered an important part of the foreign exchange reserves, declined by $ 3.23 billion to $ 565.62 billion in the week ending December 6. Foreign currency assets in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves.
The value of the country’s gold reserve also decreased
In the week ending December 6, the value of gold reserves decreased by $ 43 million to $ 66.93 billion and Special Drawing Rights (SDR) increased by $ 25 million to $ 18.03 billion.
The reply was given by the government in the Finance Ministry.
In the reply given by the government in the Lok Sabha, the Finance Ministry said that our country is in a better position in terms of forex reserves than all the countries of the world. At present, India has reached the fourth position in the list of countries which have the highest forest reserves.
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