India's foreign exchange reserves fell by $3.23 billion to $654.85 billion, data released
Forex Reserve: India's foreign exchange reserves fell by $3.235 billion to $654.857 billion during the week ended December 6. RBI gave this information on Friday. Let's know the status of the data released by RBI.
During the week ending December 6, India's foreign exchange reserves fell by $3.235 billion to $654.857 billion. RBI gave this information on Friday. In the previous week under review, the reserves had increased by $1.51 billion to $658.091 billion, halting the decline in the overall reserves for several weeks. At the end of September, the foreign exchange reserves rose to an all-time high of US$704.885 billion.
Foreign currency assets, the major component of the forex reserves, declined by $3.228 billion to $565.623 billion in the week ended December 6, the data released on Friday showed. Foreign currency assets in dollar terms include the effect of appreciation or depreciation of non-dollar currencies such as euro, pound, and yen held in the foreign exchange reserves.
The RBI said gold reserves dropped by $43 million to $ 66.936 billion during the week. Special drawing rights (SDRs) inched up by $25 million at $18.031 billion, the central bank added. India's reserve position with the IMF further increased $12 million on a weekly basis to end at $4.266 billion, according to the Apex bank data which was released this week.
