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The country’s foreign exchange reserves fell $ 1.169 billion to $ 637.477 billion in the week ended October 1, according to RBI data on Friday. During the previous week ended September 24, 2021, reserves had declined by $ 997 million to $ 638.646 billion. Reserves had jumped $ 8.895 billion to a lifetime high of $ 642.453 billion in the week ended September 3, 2021.
In the reporting week ended October 1, 2021, the decline in the forex prize pool was due to a decline in Foreign Currency Assets (FCA), a major component of global reserves.
The FCAs fell $ 1.28 billion to $ 575.451 billion, according to weekly data from the Reserve Bank of India (RBI).
Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, the pound and the yen held in foreign exchange reserves.
Gold reserves rose $ 128 million to $ 37.558 billion in the week of the report, the data showed.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) decreased by $ 138 million to $ 19.24 billion.
The country’s reserve position with the IMF increased by $ 122 million to $ 5.228 billion.
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“Real GDP for the current fiscal year is expected to increase by 8.3%, which is in line with the latest forecast of June 2021, and a downward revision of 1.8 percentage points from the forecast for March 2021, “said the World Bank’s Fall 2021 Economic Update. for South Asia.
“The sequential growth momentum slowed down or moderated somewhat in the September quarter; it’s likely to pick up again in December and March, starting with holiday season spending.
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