BUSINESSThe country's foreign exchange reserves have fallen below $550 billion. According to the data released by the Reserve Bank of India (RBI), the country's foreign exchange reserves fell by $ 5.21 billion to $ 545.65 billion for the week ending September 16. Major fall in forex assetsThe major fall in foreign exchange reserves has been due to reduction in Foreign Currency Assets (FCA). FCA is the most important component of foreign exchange reserves. According to RBI data, the foreign exchange reserves have fallen by about $ 28.22 billion in the last seven weeks.

Source: Mint September 24, 2022 05:50 UTC