Foreign exchange reserves decline from $ 160 million to $ 635.67 billion
The country’s foreign exchange reserves declined $ 160 million to $ 635.667 billion in the week to December 17, according to data from the Reserve Bank of India (RBI). During the previous week ended Dec. 10, reserves had declined by $ 77 million to $ 635.828 billion. It hit a lifetime high of $ 642.453 billion in the week ended September 3, 2021.
In the reporting week ended December 17, the decline in the forex prize pool was due to a decline in Foreign Currency Assets (FCA), a major component of aggregate reserves. The FCAs fell from $ 645 million to $ 572.216 billion, according to weekly data released by the Reserve Bank of India (RBI).
Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves. Gold reserves rose $ 475 million to $ 39.183 billion during the week of the report.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $ 19.089 billion. The country’s reserve position with the IMF increased by $ 9 million to $ 5.179 billion during the week of the report, the data showed.