India's forex reserves fall to $35.3 million
India's forex reserves fall to $35.3 million

New Delhi: The country's foreign exchange reserves have fallen drastically last week after several consecutive days of buoyancy. The country's foreign exchange reserves fell $35.3 million to $541,660 billion in the week ended September 11. Foreign exchange reserves have been heavily with the government amid the crisis of the Corona epidemic.

In the week ended September 4, foreign exchange reserves rose by $58.2 million to $542.013 billion. The country's foreign exchange reserves crossed $500 billion for the first time during the week ending June 5 this year. In the Lok Sabha last week, Union Finance Minister Nirmala Sitharaman had said that the country's foreign exchange reserves had risen to $537 billion. This is enough for 19 months of imports, he explained.

According to RBI, foreign exchange assets (FCA) have registered a decline of $84.1 million during the week ending September 11, which has seen a bearing on foreign exchange reserves. The FCA covers data on fluctuations in reserves of the euro, pound and other currencies, leaving the dollar. It is also assessed by the dollar. At the end of the week under review, the country's gold reserves rose $49.9 million to $38.02 billion.

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