foreign country The biggest weekly fall in currency reserves is due to global pressure. A record 11. 11.173 billion fell to ₹ 606.475 billion for the week ended April 1, 2022. This is according to the data released by the Reserve Bank of India (RBI) on Friday. For the week ended March 25, 2022, it fell ₹2.03 billion to ₹617.648 billion. According to the Reserve Bank, for the week ended March 18, 2022, it fell ₹2.597 billion to ₹619.678 billion. It had declined by ₹9.9.646 billion to ₹622.275 billion in the week ended March 11.
FCA reduced to ₹ 10.727 billion
According to the weekly data released by RBI, the fall in forex reserves for the week ended April 1 was mainly due to decline in foreign currency assets, which constitute a significant part of total currency reserves. Is. In the week under review, India’s FCA fell by 10.727 billion to 539.727 billion, the Reserve Bank said. Dollar-denominated FCAs also include the effect of increasing or decreasing the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.
gold reserves increased
Further, the value of gold reserves declined by ₹ 507 million to ₹ 42.734 billion during the reporting week. In the week under review, the country’s SDR (Special Drawing Rights) in the International Monetary Fund (IMF) rose by ₹58 million to ₹18.879 billion. The country’s currency reserves in the IMF have increased by 40 lakh to 13 5.136 billion.
RBI keeps repo rate unchanged at 4% in Monetary Policy Committee meeting
The Reserve Bank of India (RBI Monetary Policy) has kept the policy rates unchanged at 4%. Reserve Bank Governor Shaktikanta Das said that the RBI has kept the repo rate unchanged at 4% in case of crisis. Inflation is rising, due to Russia-Ukraine crisis, crude oil prices are rising continuously which is a matter of concern, growth is under pressure, US Federal Reserve is trying to control inflation. Besides, the rupee continues to depreciate. Due to an increase in the dollar import bill.