News Karnataka
Monday, December 11 2023

India’s forex reserves decline by over $1.7 bn

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Mumbai: India’s foreign exchange reserves fell by $1.763 billion during the week ended February 11.

The Reserve Bank of India’s forex reserves decreased to $630.190 billion from $631.953 billion reported for February 4.

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 $2.764 billion to $565.565 billion. However, the value of the country’s gold reserves increased by $952 million to $40.235 billion.

The SDR value also rose by $65 million to $19.173 billion. However, the country’s reserve position with the IMF fell by $16 million to $5.217 billion.


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