New Delhi: The country’s foreign exchange reserves fell sharply last week after a steady rise. For the week ended September 11, the country’s foreign exchange reserves fell by 35 353 million to 54 541.660 billion. Amid the Corona crisis, foreign exchange reserves have backed the government.
Foreign exchange reserves rose 58 582 million to 54 542.013 billion in the week ended September 4. During the week ending June 5 this year, the country’s foreign exchange reserves crossed 500 500 billion for the first time. Just last week, Finance Minister Nirmala Sitharaman told the Lok Sabha that India’s foreign exchange reserves had risen to 53 537 billion. This is enough for 19 months of imports, he said.
According to the RBI, foreign exchange reserves (FCAs) declined by Rs 84.1 crore during the week ended September 11, reflecting the impact on foreign exchange reserves. The FCA includes fluctuations in reserves of Euros, Pounds and other currencies other than the dollar. It is also valued in dollars. Over the weekend under review, the country’s gold reserves strengthened by 49 499 million to 38 38.02 billion.
In addition, the Special Withdrawal Right (SDR) from the International Monetary Fund fell by 10 1 million to 1. 1.482 billion. The country’s foreign exchange reserves, which have accumulated, have fallen by 11 11 million to 4. 4.637 billion.