• Source:PTI

Amid global energy supply chain disruption due to middle east crisis, India’s foreign reserves fell by $11.683 billion to $716.810 billion in the week ended March 6, the RBI said on Friday. Total reserves rose $4.885 billion to an all-time high of $728.494 billion in the previous reporting week.

Foreign currency assets, a major component of reserves, fell by $9.880 billion to $563.245 billion in the week ended March 6, according to data released by the central bank.

Foreign currency assets in dollar terms include the effect of appreciation or depreciation of non-U.S. units such as the euro, pound and yen held in foreign exchange reserves.

Gold reserves fell by $1.612 billion to $130.017 billion this week, the RBI said. Special drawing rights (SDRs) fell $146 million to $18.720 billion. India's reserve position with the IMF also fell by US$45 million to US$4.828 billion in the reporting week, the data showed.

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Stock Market Crashes Today

Equity benchmarks Sensex and Nifty came under selling pressure for the third consecutive day on Friday as crude oil prices rose amid rising inflationary pressures and concerns over global economic stability.

Sharp sell-off in global markets, steady foreign capital outflows and ongoing weakness in the rupee also weighed on investor sentiment.

The 30-share BSE Sensex fell 1,579.82 points, or 2 per cent, to 74,454.60. The benchmark index ended down 1,470.50 points, or 1.93 per cent, to 74,563.92.

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A total of 3,348 stocks declined on the BSE, while 941 advanced and 132 were unchanged. The 50-share NSE Nifty fell 488.05 points, or 2.06 per cent, to close at 23,151.10.

The Story is published from the agency feed (PTI) with minor changes in the intro and body.


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