India‘s foreign exchange reserves for the week that ended on June 10, 2022, declined by $4.59 billion to $596.46 billion, Reserve Bank of India (RBI) data showed on Friday, June 17. The previous week that ended on June 3, 2022, the total foreign exchange reserves were at $601.05 billion. The latest decline in the reserves was on account of a sizable fall in Foreign Currency Assets (FCA), which is a major component of the overall reserves. The FCA declined by $4.53 billion to $532.24 billion during the week, the RBI data showed. Gold reserves dipped marginally during the week, while the Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) dropped by $23 million to $18.38 billion. Further, the country’s reserve position with the IMF decreased by $40 million to $4.99 billion.
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Indian Americans
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