India’s foreign exchange reserves fall by $4.6 billion for week ending June 10

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.

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.