Foreign Exchange Reserves Decline By USD 763 Million to USD 640.112 Billion


Sheena

Updated: Nov 20, 2021 08:05:22 pm

20 November 2021 Current Affairs:The Reserve Bank of India (RBI) has provided updated data on foreign exchange reserves. The country's foreign exchange reserves fell by $ 763 million to $ 640.112 billion in the week ending November 12, according to new figures.

Highlights:
♦In the week ending November 5, foreign exchange reserves fell by USD 1.145 billion to USD 640.874 billion. Reserves, on the other hand, hit a new high of USD 642.453 billion in the week ending September 3, 2021.
♦The Reserve Bank of India's (RBI) weekly data shows that the reduction in forex reserves this reporting week was due to a drop in foreign currency assets (FCA), a major component of overall reserves. FCA fell $2.094 billion to $575.487 billion in the reporting week, according to the data. 
♦Foreign currency assets comprise the effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, expressed in dollar terms. In the reporting week, gold reserves increased by $ 1.461 billion to $ 40.239 billion.
 
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