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Forex reserves down by $1.466 billion to $633.614 billion

Forex reserves down by $1.466 billion to $633.614 billion

MUMBAI: The countrys foreign exchange reserves declined by $1.466 billion to $633.614 billion in the week ended December 31, RBI data showed. In the previous week ended December 24, the reserves dipped by $587 million to $635.08 billion. It touched a life-time high of $642.453 billion in the week ended September 3, 2021. During the reporting week ended December 31, the decline in foreign exchange reserves was on account of a fall in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of Indias (RBI) weekly data released on Friday showed. FCA declined by $1.48 billion to $569.889 billion in the reporting week, the RBI data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves rose by USD 14 million to $39.405 billion in the reporting week, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $19.114 billion in the reporting week, the RBI said. The countrys reserve position with the IMF was also unchanged at $5.207 billion in the reporting week, the data showed. .

business 2022-01-08 TOI