: Forex reserves decline by 0 mn #finance #StockMarketNEWS #Business Mumbai: The country’s foreign exchange reserves declined by US$ 160 million to stand at US$ 635.667 billion in the week to December

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Forex reserves decline by 0 mn #finance #StockMarketNEWS #Business
Mumbai: The country’s foreign exchange reserves declined by US$ 160 million to stand at US$ 635.667 billion in the week to December 17, RBI data showed on Friday.

In the previous week ended December 10, the reserves had decreased by US$ 77 million to

US$ 635.828 billion. It touched a lifetime high of US$D 642.453 billion in the week ended September 3, 2021.

During the reporting week ended December 17, the dip in the forex kitty was on account of a decline in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs tumbled by US$ 645 million to US$ 572.216 billion, weekly data released by the Reserve Bank of India (RBI) 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 US$ 475 million to US$ 39.183 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at US$ 19.089 billion.

The country’s reserve position with the IMF increased by US$ 9 million to US$ 5.179 billion in the reporting week, as per the data.
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