foreign exchange reserves
RBI has shared the data of the country's forex reserves on Friday. In which quite surprising data has come to light. The special thing is that gold worth Rs 1.28 lakh crore has been cleared from the country's treasury in about a week. This means that the gold reserve has reduced by more than $14 billion. Whereas an increase of more than 7.50 billion dollars has been seen in currency assets. This is the reason that overall there has been a decline of 6.7 billion dollars in the country's forex reserves.
Due to which the country's forex reserve has fallen below life time high. Whereas last week there was an increase of more than 14 billion dollars in the country's forex reserves. In which the entire stake was seen of Gold Reserve. Whereas a decline of about 500 million dollars was seen in the country's currency assets. Let us also tell you what kind of data has been seen in the forex reserves of the country.
The Reserve Bank of India (RBI) said on Friday that India's foreign exchange reserves declined by US $ 6.711 billion to US $ 717.064 billion during the week ending February 6. In the last reporting week, reserves had increased by US$14.361 billion to reach a lifetime high of US$723.774 billion. The special thing is that after seeing an increase in the country's forex reserves for 4 consecutive weeks, there has been a decline. In these four weeks, an increase of $ 36.97 billion was seen in the country's forex reserves. According to experts, there was an increase in the country's forex reserves after the trade deal with the EU and then the US.
The special thing is that there has been an increase in the currency assets of the country. Expressed in dollar terms, foreign currency assets include the effect of increases or decreases in the value of non-US currencies held in foreign exchange reserves, such as the euro, pound and yen. According to RBI data, during the week ended February 6, foreign currency assets, a major component of reserves, increased by US$ 7.661 billion to US$ 570.053 billion. Whereas last week there was a decline of 493 million dollars. However, in the last 6 weeks, there have been three such occasions when the currency assets of the country have seen a decline.
tormented week | Rise or fall in currency assets (in billion dollars) |
6 February | 7.661 |
30 January | – 493 |
23 January | 2.367 |
16 January | 9.652 |
9 January | – 1.124 |
2 January | – 7.622 |
On the other hand, there has been a decline in the country's gold reserve. The special thing is that the decline in gold reserves has been seen after a continuous rise in 4 weeks. According to RBI data, during this week the value of gold reserves decreased by US $ 14.208 billion to US $ 123.476 billion. Whereas last week there was an increase of 14.595 billion dollars in gold reserves. Earlier, a decline in gold reserves was seen in the week ending January 2. Then a decline of 2.058 billion dollars was seen in the gold reserve.
tormented week | Rise or fall in gold reserves (in billion dollars) |
6 February | – 14.208 |
30 January | 14.595 |
23 January | 5.635 |
16 January | 4.623 |
9 January | 1.568 |
2 January | – 2.058 |
While giving information, India's banking regulator RBI said that Special Drawing Rights (SDR) have decreased by US $ 132 million to US $ 18.821 billion. On the other hand, the country's reserves in the IMF have also decreased. According to RBI data, India's reserve position with the IMF also declined by US $ 32 million to US $ 4.715 billion in the reporting week.
