India’s forex reserves declines by $878 mn to $632.7 bn: RBI data
- As per the weekly Reserve Bank of India (RBI) data, the foreign exchange reserves of India declined by $878 million to USD 632.736 billion in the week ended January 7, 2022.
- In the previous week ended December 31, India’s reserves dropped by $1.466 billion to $633.614 billion.
- The decline was mainly due to a fall in gold reserves and foreign currency assets (FCA).
- In the reporting week, FCAs decreased by $497 million to $569.392 billion.
- Gold reserves declined by $360 million to $39.044 billion.
- The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $16 million to $19.098 billion.
- India’s reserve position with the IMF dipped by $5 million to $5.202 billion.
Points to Remember:
- India’s foreign exchange reserves fund in the week ended January 07, 2022, as per RBI data.