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After increasing over the past few weeks, the country’s foreign exchange reserves decreased from $ 113 million to $ 479.45 billion in the week to April 24, due to a drop in foreign currency assets, according to the latest data from the Bank of the Reserve of India.
In the previous week, reserves had increased by $ 3.09 billion to $ 479.57 billion.
Reserves had peaked at a lifetime of $ 487.23 billion in the week to March 6, after they increased by $ 5.69 billion.
During 2019-20, the country’s foreign exchange reserves increased by almost USD 62 billion.
In the reporting week ending April 24, foreign currency assets (FCA), a major component of general reserves, decreased by $ 321 million to $ 441.56 billion.
Expressed in dollars, FCAs include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen on foreign exchange reserves.
Gold reserves increased by $ 221 million to $ 32,901 billion in the week of the report, RBI data showed.
Special drawing rights with the International Monetary Fund (IMF) fell $ 6 million to $ 1.42 billion.
The country’s reserve position with the IMF also declined by $ 8 million to $ 3.57 billion during the reporting week, the data showed.
