India Forex Reserves 2023: India has faced a decline in foreign exchange reserves in the very first week of the new year (New Year 2023). The Reserve Bank of India (RBI Bank) has given complete information about this on Friday. According to the data received from RBI, during the week ending January 6, 2023, there has been a loss of $ 1.268 billion in the country’s foreign exchange reserves. After which it has now come down to $561.583 billion. In the same last week, the country’s total foreign exchange reserves had increased by $ 44 million to $ 562.851 billion. Earlier, in the last two weeks of December 2022 last year, there was a continuous decline in foreign exchange reserves.
Know how much impact
According to the weekly data of the central bank, foreign currency assets (AFCA), which are considered an important part of the total currency reserves, decreased by $ 1.747 billion to $ 496.441 billion in the week ended January 6. The value of Foreign Currency Assets (FCA) is taken in dollar terms. It is affected by the fall or strength in the value of other foreign currencies including Euro, Pound and Japanese Yen. Effects of fluctuations in US currencies are included. The value of gold reserves has increased by $ 461 million to $ 41.784 billion in the week under review.
There was so much decline in the year 2021
In October 2021, foreign exchange reserves had reached an all-time high of $ 645 billion. It declined later as the central bank used reserves to counter a sharp fall in the rupee’s exchange rate amid global developments.
Know what is the data
According to RBI bank data, the Special Drawing Right (SDR) has increased by $ 35 million to $ 18.217 billion. The country’s currency reserves kept in the International Monetary Fund (IMF) have decreased by $ 18 million to $ 5.141 billion.