Forex Reserves: Gold Reserves Increased By $ 305 Million

Forex Reserves: Gold reserves increased by $ 305 million, and foreign exchange reserves fell again.

The country’s foreign exchange reserves have come down again. It declined by $2.23 billion to $570.74 billion in the week ending August 12, 2022.

During this period, the value of gold reserves increased by $ 305 million to $ 40.61 billion. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.

According to the Reserve Bank’s data, in the previous week ended August 5, foreign exchange reserves were down by $ 897 million to $ 572.97 billion.

Earlier, during the week ended July 29, foreign exchange reserves had increased by $ 2.315 billion to $ 573.875 billion.

Forex Reserves: Gold reserves increased, and FCA is down by $2.65 billion.

According to the weekly data released by RBI on Friday, this decline in foreign exchange reserves in the week ended August 12 was mainly due to the reduction in Foreign Currency Assets (Foreign Currency Assets), which is a significant part of the total currency reserves.

The Reserve Bank said that India’s FCA fell by $ 2.65 billion to $ 506.99 billion in the reporting week.

FCAs, expressed in dollars, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound, and yen held in foreign exchange reserves.

Gold reserve increased by $ 305 million.

According to the data, the value of gold reserves increased by $ 305 million to $ 40.61 billion during this period.

In the reporting week, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) increased by $ 102 million to $ 18.13 billion.

The country’s currency reserves kept in the IMF increased by $ 7 million to more than $ 4.99 billion.