Forex reserves fall to $562 billion during period ending Dec 23: RBI data

New Delhi, Dec 31: India’s foreign exchange reserves fell by $691 million to $562.808 billion as on December 23, according to RBI data released on Friday.

Prior to this week, the forex reserves had slipped by $571 million to $563.499 billion.

Forex reserves have been falling, as they are being used to bolster the declining rupee.

The country’s reserve position with the International Monetary Fund (IMF) was up by $45 million to $5.159 billion in the reporting week, the data showed.

Meanwhile, foreign currency assets also fell by $1.134 billion to $498.49 billion during the week ending December 23, according to RBI data.