January 21, 2022

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India’s forex reserves dip by $1.46 bn in the last week of 2021

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Foreign currency assets, which show the change in the valuation, fell by $1.480 billion to $569.89 billion.

Kolkata:

India’s foreign currency reserves dipped by $1.466 billion in the last week of 2021 to $633.614 billion, Reserve Bank of India‘s data showed.

This reflects the fall in the valuation of reserves held in other global currencies. RBI does not give any reason behind the rise or fall in reserves.

Foreign currency assets, which show the change in the valuation, fell by $1.480 billion to $569.89 billion.

Forex reserves fell nearly $4billion in December due to unabated dollar outflows as foreign portfolio investors (FPI) continue to offload their investments in local debt and equities ahead of Christmas and New Year holidays. FPIs offloaded nearly $3 billion of their investment in December alone.

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Heavy FII fund outflows from the equities segment countered rising exports to dent the Indian rupee in 2021.

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Foreign-owned assets in India increased by USD 37.3 billion in the September quarter while Indian residents’ overseas financial assets rose by USD 31.9 billion during the same period, RBI data

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