Foreign exchange reserves decreased for the second consecutive week, stood at US $ 562.81 billion

India Forex Reserves 2022 : The Reserve Bank of India (RBI) has released the figures of India Forex Reserves on Friday, 30 December. RBI said that in the week ending December 23, 2022, it decreased by $ 691 million to $ 562.808 billion. Along with this, the country’s foreign exchange reserves have decreased for the second consecutive week.

so much foreign exchange reserves

RBI said that last week, breaking the growth of the last 5 weeks, the foreign exchange reserves fell by $ 571 million and stood at 563.499 billion. In October 2021, the country’s foreign exchange reserves reached a record high of $ 645 billion. RBI Bank had sold US Dollars to check the fall in the value of Indian Rupee, due to which there was a significant reduction in foreign exchange reserves.

loss in foreign currency

Foreign Currency Assets (FCA) have an important role in foreign exchange reserves. In the portion ended September 23, it decreased by $ 1.134 billion to $ 498.49 billion. The value of Foreign Currency Assets (FCA) is taken in dollar terms. It is affected by the fall or strength in the value of other foreign currencies including Euro, Pound and Japanese Yen.

This much gold reserve

India’s Gold Reserve has increased by about $ 390 million to $ 40.969 billion. At the same time, Special Drawing Rights (SDRs) have increased by about $ 8 million to reach $ 18.19 billion. The country’s reserve with the International Monetary Fund (IMF) has increased by $ 45 million this week to $ 5.159 billion.

reduced financial budget

The fiscal deficit of the central government has been Rs 9.78 lakh crore in the first 8 months (April-November 2022) of the current financial year. This is about 58.9 percent of the budget estimate for the whole year. The Controller General of Accounts (CAG) has given this information in the figures released on Friday, 30 December. The fiscal deficit in the first 8 months of the last financial year was 46.2 per cent of the budget estimate. The government has estimated the fiscal deficit for 2022-23 to be Rs 16.61 lakh crore i.e. 6.4 percent of GDP.

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