India’s foreign exchange reserves down $2.71 bn

Mumbai, Dec 4: India’s foreign exchange reserves fell by $2.71 billion during the week ended November 26.

The Reserve Bank of India’s forex reserves decreased to $637.687 billion from $640.401 billion reported for the week ended November 19.

India’s forex reserves comprise 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 $1.048 billion to $574.664 billion. Similarly, the value of the country’s gold reserves fell by $1.566 billion to $38.825 billion, while the SDR value dipped by $74 million to $19.036 billion.

In addition, the country’s reserve position with the IMF was down $25 million to $5.162 billion.