economy

Forex reserves decline $77 mn to $635.8 bn: RBI data

Forex reserves decline $77 mn to $635.8 bn: RBI data

Declining for the third consecutive week, Indias forex reserves dipped by $77 million to reach $635.828 billion for the week ended December 10, RBI data showed on Friday. In the previous week, the reserves had slid by $1.783 billion to $635.905 billion. In the reporting week ended December 10, the dip in the forex kitty was on account of a decline in foreign currency assets (FCA), a major component of the overall reserves. FCA dropped by $321 million to $572.86 billion, as per the data. 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. Value of the gold reserves rose by $291 million by to $38.709 billion in the reporting week. The special drawing rights (SDRs) with the International Monetary Fund (IMF) were down by $37 million to $19.089 billion. The countrys reserve position with the IMF also increased by $10 million to $5.17 billion, the data showed. This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed. Download.

economy 2021-12-18 Livemint