India's Foreign Exchange reserves down by over USD 4 bn

MUMBAI: India's foreign exchange (Forex) reserves fell by USD 4.531 billion in the week ending January 28. The Reserve Bank of India's foreign exchange reserves fell to USD 629.755 billion on January 21 from USD 634.287 billion the previous day.

Foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the International Monetary Fund make up the country's forex reserves.

Foreign currency assets, the largest component of forex reserves, fell by USD 3.504 billion to USD 566.077 billion on a weekly basis. Similarly, the country's gold reserves fell by USD 844 million to USD 39.493 billion in value.

The Special Drawing Right value dropped USD 141 million to USD 19.011 billion, and the country's International Monetary Fund (IMF) reserve position dropped USD 42 million to USD 5.174 billion.

India's foreign exchange reserves fell by USD 678 mn to USD 634.28 bn dollars

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