News Karnataka
Sunday, June 04 2023

India’s forex reserves decline by over $1.4 bn

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Mumbai: India’s foreign exchange reserves declined by $1.466 billion during the week ended December 31, 2021.

The Reserve Bank of India’s forex reserves decreased to $633.614 billion from $635.080 billion.

The country’s forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.480 billion to $569.889 billion.

However, the value of the country’s gold reserves inched up by $14 million to $39.405 billion.

The SDR value remained flat at $19.114 billion. Similarly, the country’s reserve position with the IMF was constant at $5.207 billion.

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