India’s foreign exchange reserves down $1.8 bn

By Sarkaritel January 23, 2021 03:12

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Mumbai, Jan 23 India’s foreign exchange reserves declined by $1.839 billion during the week ended January 15.

According to the Reserve Bank of India’s weekly statistical supplement, the reserves decreased to $584.242 billion from $586.082 billion reported for the week ended January 8.

India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $284 million to $541.507 billion.

Besides, the value of the country’s gold reserves decreased by $1.534 billion to $36.060 billion.

Similarly, the SDR value slipped by $4 million to $1.512 billion.

The country’s reserve position with the IMF fell by $17 million to $5.163 billion.