Foreign Exchange Reserves: Foreign exchange reserves reached an all-time high of $ 645 billion on October 2021.

new Delhi:

Foreign Exchange Reserves: The country's foreign exchange reserves declined by $691 million to $562.808 billion during the week ending December 23. The Reserve Bank of India (RBI) has given this information on Friday.

Let us tell you that the foreign exchange reserves have declined for the second consecutive week.

Last week, the country's total foreign exchange reserves had decreased by $ 57.1 billion to reach $ 563.499 billion.

However, before this, an increase in foreign exchange reserves was recorded for five consecutive weeks.

What is the reason for the decline in foreign exchange reserves?

Foreign exchange reserves had reached an all-time high of $645 billion on October 2021.

In the midst of global developments, the central bank is using currency reserves to prevent the continuous decline in the exchange rate of the Indian Rupee against foreign currencies.

This is a major reason why a decline in currency reserves is being seen.

Foreign currency asset also declined

According to the weekly data released by RBI, Foreign Currency Asset has also declined in the last week.

Foreign currency assets (FCAs) declined by $1.134 billion to $498.49 billion in the week ended December 23.

Foreign currency assets ie Foreign Currency Asset (FCA) form an important part of the total foreign exchange reserves.

Foreign currency assets expressed in dollars also include the effects of appreciation or depreciation in non-US currencies such as the euro, pound and yen.

Gold reserves increased to $ 40.969 billion

Apart from this, in the week ending December 23, there has been an increase in the gold reserves of the country.

Last week, the value of gold reserve has increased by $390 million and it has become $40.969 billion.

While there was a decline in Gold Reserves in the week ending 16 December.

Last week, there was a decrease of $150 million in the value of the gold reserve.

During this, it had come down to $ 40.579 billion.