India’s foreign exchange reserves dip down by $77 mn

Mumbai, Dec 17: India’s foreign exchange reserves inched lower by $77 million during the week ended December 10.

The Reserve Bank of India’s forex reserves decreased to $635.828 billion from $635.905 billion during the week ended December 3.

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 $321 million to $572.860 billion. However, the value of the country’s gold reserves rose by $291 million to $38.709 billion.

The SDR value fell by $37 million to $19.089 billion, and the country’s reserve position with the IMF slipped by $10 million to $5.170 billion.