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Tuesday, June 22, 2021

Forex kitty sees first drop in 6 months to $481.89 billion

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The country’s foreign exchange reserves fell for the first time in almost six months to $481.89 billion in the week ended March 13, after touching a record high of $487.23 billion. In the reporting week, the reserves declined by $5.35 billion. It had touched a life-time high of $487.23 billion in the week to March 6, after it rose $5.69 billion. The last time forex reserves declined was in the week to September 20, 2019, when it had fallen by $388 million to $428.58 billion. The fall in forex reserves in the week to March 13 was on account of decrease in foreign currency assets (FCA), a major component of the overall reserves.

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