India's FOREX reserves decline by USD587 Million

MUMBAI:  India's foreign exchange (FOREX) reserves decreased by USD587 million in the week ending December 24. The Reserve Bank of India's (RBI) foreign exchange reserves fell from USD635.667 billion to USD635.080 billion.

Foreign currency assets (FCA), gold reserves, SDRs, and the country's reserve position with the IMF make up the forex reserves. Foreign currency assets, the largest component of forex reserves, fell USD847 million to USD571.369 billion on a weekly basis.

The country's gold reserves, on the other hand, increased by USD207 million to USD39.390 billion. Similarly, the value of the Special Drawing Right (SDR) increased by USD24 million to USD19.114 billion, while the country's reserve position with the IMF increased by USD28 million to USD5.207 billion.

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