India’s foreign exchange reserves down over $1.7 bn

Mumbai, Dec 11: India’s foreign exchange reserves fell by $1.783 billion during the week ended December 3.

The Reserve Bank of India’s forex reserves decreased to $635.905 billion from $637.687 billion reported for the week.

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 $1.483 billion to $573.181 billion.

Similarly, the value of the country’s gold reserves fell by $407 million to $38.418 billion.

However, the SDR value rose by $90 million to $19.126 billion, and the country’s reserve position with the IMF was up $17 million to $5.180 billion.