This week there was a decline of $ 310 million in the dollar reserve.
On June 3, in the last week, the country’s foreign exchange reserves fell again. Rupee closed at record low against dollar this week. Apart from this, there has also been a decline in the gold reserve.
India’s foreign exchange reserves declined by $ 306 million to $ 601.057 billion in the week ended June 3. reserve Bank of India (Reserve Bank of IndiaAccording to the data of ), the foreign exchange reserves had increased by $ 3.854 billion to $ 601.363 billion last week. in the week ending May 20 foreign exchange reserves ,Foreign Exchange Reserves) increased by $ 4.23 billion to $ 597.509 billion. The reason for the decline in foreign exchange reserves in the reporting week is the decline in foreign currency assets, which is a significant component of the total reserves. According to the data, foreign currency assets (FCA) declined by $ 208 million to $ 536.779 billion in the reporting week. Foreign currency assets held in foreign exchange reserves, expressed in dollars, include the effects of appreciation or depreciation in non-US currencies such as the euro, pound and yen.
According to the data, gold reserves in the week under review (India Gold reserves) also declined by $74 million to $40,843 billion. The Special Drawing Rights (SDR) with the International Monetary Fund (IMF) declined by $28 million to $1841 billion in the reporting week. The country’s currency reserves kept in the IMF increased by $ 500 million to $ 5.025 billion.
Rupee sentiment weakens
Here in the foreign exchange market on Friday, the rupee (Dollar vs Rupees) fell by 19 paise to close at Rs 77.93 per dollar against the US currency. This is the lowest level of rupee ever. This decline has come due to the rise in crude oil prices and continuous withdrawal of capital from the market by Foreign Institutional Investors. Traders said heavy selling in the stock market and strengthening of the dollar overseas also affected the rupee’s sentiments.
Rupee closed at record low of 77.93 per dollar
The rupee opened at 77.81 against the dollar in the interbank foreign exchange market. In the day’s trading, it went up to a high of 77.79 and a low of 77.93. At the end of trading, the rupee fell by 19 paise to 77.93 per dollar against its previous closing price of Rs 77.74, which is the lowest level ever.
Rupee firmly at record low in dollar index
Dilip Parmar, Research Analyst, HDFC Securities said, the Indian rupee fell to a record low amid risk aversion, weak macroeconomic data and a strong dollar index. BSE’s 30-share Sensex fell by 1,016.84 points. Closed at 54,303.44 points.
FII sold shares worth 3973 crores
Meanwhile, the dollar index, which reflects the position of the US dollar against the six major currencies, closed 1 per cent higher at 104.235. Brent crude closed at $ 122 a barrel, down 1.06 percent. According to stock market data, foreign institutional investors sold shares worth a net Rs 3,973.95 crore from the capital market on Friday.