New Delhi: The foreign exchange reserves of the country touched an all-time low. The weekly statistical supplement data released by the Reserve Bank of India revealed this.
The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). FCA is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves.
Forex reserves fell by $5.87 billion to $590.588 billion in the week ending June 17. It was at $596.458 billion in the week ending June 10. Forex reserve is below $600 billion mark for the third week in arrow. Over the last three weeks under scrutiny, it has fallen by $10.785 billion.
The foreign currency assets (FCA) decreased by $5.362 billion to $526.882 billion. Gold holdings fell by $258 million to $40.584 billion. The Special Drawing Rights (SDRs) of the International Monetary Fund (IMF) fell by $233 million to $18.155 billion. India’s reserve position with the IMF fell by $17 million to $4.968 billion.