India’s forex reserves decline by $11.173 billion to $606.475 billion


India’s forex reserves fell by $11.173 billion to $606.475 billion for the fourth consecutive week in the week ended April 1, the biggest weekly decline ever.

According to the analysts that the sharp fall in global currency volatility due to the strengthening of the US dollar can be attributed to the fall in forex reserves.

In its weekly statistical supplement released here on Friday, the Reserve Bank of India (RBI) said foreign currency assets, which form a major part of forex reserves, had fallen by $10.727 billion to $539.727 billion during the week.

Foreign currency assets, expressed in terms of US dollars, include the effect of depreciation or depreciation held in reserves of non-US currencies such as the euro, pound and yen.

The country’s reserve position with the International Monetary Fund (IMF) rose by $4 million to $5.136 billion during the week, the bulletin said.

Despite the perceived shortfall in foreign exchange reserves, India maintains its ranking at the fourth position. Switzerland, Japan and China are ahead of India in terms of foreign exchange reserves. The 5th position is held by Russia, which is facing a decline in its foreign exchange due to the ongoing war between Russia and Ukraine.

Support Indian Spectator, follow us on Google News. Submit your opinion and guest articles on

IS NewsDesk
IS NewsDesk
Stories curated by our interns and news crew. Originally reported or general compilation from various available sources and news agencies.

Latest News

Aays Analytics Expands Into The Apac Area ,Begins Operations In Singapore

Aays, a data analytics firm that offers business intelligence and financial analytics consultancy, launches operations in Singapore as it...

Well-known TV actress Nishi Singh passes away, known for playing Hitler Didi

Nishi Singh, a well-known TV star, died on Sunday, two days after her 50th birthday. Sanjay Singh Bhadli, Singh's...

Explained: Political Crisis in Jharkhand

On Sunday, Some of the UPA leaders in Jharkhand have asked Governor Ramesh Bais to dispel speculations about the...

Lead in Paints in India and its Weak Regulation by the Government

There is a cultural significance of whitewashing and painting houses in India, during festivals like Diwali people paint their...

Canva, the graphic design platform, went down again, user get a 502 error

Canva, the graphic design company based out of Australia which is the most popular suit based graphic designing service...

What colourful milestones on Indian roads really mean ?

Roads in India stretch for miles, according to one figure, the network of roads in India is spread over...

After Three Consecutive Flops, Akshay Kumar Said – I Admit My Fault

Bollywood is currently undergoing a metamorphosis, all precedents which were set earlier, seem to be breaking as the biggest...

6 Golden Tips to Stay Consistent with your Yoga Practice

Let us all accept it first, we all have adopted yoga at some point in our life, made many...