India’s foreign exchange reserves fall by $ 587 million

India’s foreign exchange reserves fell by $ 587 million in the week ended December 24, which is the fourth week in a row declining.

Reserve Bank of India’s foreign exchange reserves declined to $ 635.080 billion from $ 635.667 billion. Foreign exchange reserves include foreign currency holdings (FCA), gold reserves, SDRs and the country’s reserve position with the IMF.

On a weekly basis, the FCAs, the largest component of foreign exchange reserves, declined slightly from $ 847 million to $ 571.369 billion.

However, the value of the country’s gold reserves increased by $ 207 million to reach $ 39.390 billion. Likewise, the value of the SDR increased by $ 24 million to reach $ 19.114 billion, while the country’s reserve position with the IMF increased by $ 28 million to reach $ 5.207 billion.