India Forex Reserves 2022 | Why did India's forex reserves hit near 2-year low?

India Forex Reserves 2022 | Why did India's forex reserves hit near 2-year low?

The gain in the foreign exchange reserves can be attributed to a rise in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI. However, the spot forex reserves are still sharply down from $607 billion in end-March and depleted by $111.37 billion from the record high of $642.45 billion seen on September 3 last year.

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