India’s forex reserves decline $77 million to $635.828 billion

In the previous week, the reserves had slid by USD 1.783 billion to USD 635.905 billion.

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Declining for the third consecutive week, India’s forex reserves dipped by USD 77 million to reach USD 635.828 billion for the week ended December 10, RBI data showed on Friday.

In the previous week, the reserves had slid by USD 1.783 billion to USD 635.905 billion.

In the reporting week ended December 10, the dip in the forex kitty was on account of a decline in foreign currency assets (FCA), a major component of the overall reserves.

FCA dropped by USD 321 million to USD 572.86 billion, as per the data.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of the gold reserves rose by USD 291 million by to USD 38.709 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) were down by USD 37 million to USD 19.089 billion.

The country’s reserve position with the IMF also increased by USD 10 million to USD 5.17 billion, the data showed.

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