Mumbai : India’s forex reserves decreased by over $11.173 billion during the week ended April 1 due to volatility in global currency, strengthening US dollar
, Forex reserves were negatively affected due to strengthening of the US dollar against other global currencies.
FCAs include global currencies and securities such as US Treasury bonds.
According to RBI data, FCAs declined by $10.727 billion to $539.727 billion.
Thus, India’s total foreign exchange reserves declined by $11.173 billion to $606.475 billion from $617.648 billion in the previous week.
The country’s foreign exchange reserves include FCA, gold reserves, SDR and the country’s reserve position with the IMF.
The value of gold reserves also declined by $507 million to $42.734 billion.
While the SDR value increased by $58 million to $18.879 billion, India’s reserve position with the IMF also increased by $4 million to $5.136 billion.