Mumbai: The country’s foreign exchange reserves declined by $897 million to $573 billion in the week ended August 5, according to the RBI. In the prev
Mumbai: The country’s foreign exchange reserves declined by $897 million to $573 billion in the week ended August 5, according to the RBI. In the previous week, the reserves had risen $2.3 billion to $574 billion.
In the week ended August 5, the fall in the foreign exchange reserves was due to a dip in the foreign currency assets (FCA), a major component of the overall reserves.
Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased $671 million to $40 billion in the week ended August 5. agencies
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