Forex Reserves
India's forex reserves contract to $562.81 billion from $563.49 billion
Mumbai/IBNS: India’s forex reserve contracted for the second consecutive week to $562.81 billion as on December 23, 2022, from $563.499 billion owing to the sharp rise in the cost of imported goods, Reserve Bank of India (RBI) said on Friday.
The foreign currency assets (FCA) stood at $498.5 billion.
FCA, including non-US units like the euro, pound and yen held in the foreign exchange reserves, is a major component of the overall reserves.
Expressed in dollar terms, it reflects the effect of appreciation or depreciation held in the forex reserves.
The gold reserves stood at $40.97 billion. The SDR is at $18.2 billion.
The reserve position at the IMF is at $5.2 billion.
At the beginning of 2022, the overall forex reserves were at $633.61 billion and slid to a two-year low in October.
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