India’s forex reserves decline by over $1.4 bn

Image Source : PTI

The SDR value remained flat at $19.114 billion. 

Highlights

  • India’s foreign exchange reserves declined by $1.466 billion during the week ended December 31.
  • The Reserve Bank of India’s forex reserves decreased to $633.614 billion from $635.080 billion.
  • Similarly, the country’s reserve position with the IMF was constant at $5.207 billion.

 India’s foreign exchange reserves declined by $1.466 billion during the week ended December 31, 2021. The Reserve Bank of India’s forex reserves decreased to $633.614 billion from $635.080 billion.

The country’s forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.480 billion to $569.889 billion.

However, the value of the country’s gold reserves inched up by $14 million to $39.405 billion. The SDR value remained flat at $19.114 billion. Similarly, the country’s reserve position with the IMF was constant at $5.207 billion.

ALSO READ | India’s GDP to grow at 9.2% in 2021-22, to surpass pre-Covid level, says govt data


 

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