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India's forex reserves dip by $160 million to $635.67 billion

In the previous week ended December 10, the reserves had decreased by $77 million to $635.828 billion.

December 24, 2021 / 06:54 PM IST
Representative image

Representative image

The country’s foreign exchange reserves declined by $160 million to stand at $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 $77 million to $635.828 billion.

It touched a lifetime high of $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 $645 million to $572.216 billion, weekly data released by the Reserve Bank of India (RBI) showed.

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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 $475 million to $39.183 billion in the reporting week.

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

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



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PTI
first published: Dec 24, 2021 06:54 pm
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