Mumbai: Foreign exchange reserves of the country fell to $561.58 billion in the week ended on January 6. The weekly statistical supplement released by the Reserve Bank of India (RBI) revealed this. For the week ended December 30, the country’s reserves were at $562.85 billion.
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.
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Gold reserves increased by $461 million to $41.784 billion. The Special Drawing Rights (SDRs) were up by $35 million to $18.217 billion. The country’s reserve position with the International Monetary Fund (IMF) was down by $18 million to $ 5.141 billion .Foreign currency assets (FCA), dropped by $1.747 billion to $496.441 billion.
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