NEW DELHI: The country’s foreign exchange reserves declined by $2.986 billion to reach $579.285 billion in the week ended March 26, RBI data showed on Friday.
In the previous week ended March 19, the forex kitty had increased by $233 million to $582.271 billion. It had touched a record high of $590.185 billion in the week ended January 29, 2021, report agencies.In the reporting week ended March 26, 2021, the fall in reserves was on account of a decrease in foreign currency assets (FCA), a major component of the overall reserves.
FCA declined by $3.226 billion to $537.953 billion, as per weekly data by the Reserve Bank of India (RBI).
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.