Forex reserves decline by $160 million to $635.67 billion

The country’s foreign exchange reserves declined by USD 160 million to stand at USD 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 USD 77 million to USD 635.828 billion. It touched a lifetime high of USD 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 USD 645 million to USD 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 USD 475 million to USD 39.183 billion in the reporting week.

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

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

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