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India's forex reserves decline $1.839 bn to $584 bn

In the previous week ended January 8, the reserves had climbed by $758 million to touch a lifetime high of $586.082 billion

twitter-logoPTI | January 22, 2021 | Updated 19:49 IST
India's foreign exchange reserves decline to $584.242 billion
The country's reserve position with the IMF fell by $17 million to $5.163 billion in the week

After touching a record high in the preceding week, the country's foreign exchange reserves declined by $1.839 billion to $584.242 billion in the week ended January 15, RBI data showed on Friday. In the previous week ended January 8, the reserves had climbed by $758 million to touch a lifetime high of $586.082 billion.

In the reporting week, foreign currency assets (FCA) -- a major component of the overall reserves -- decreased by $284 million to $541.507 billion, weekly data 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 declined by $1.534 billion to $36.06 billion in the week ended January 15, as per the data.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $4 million to $1.512 billion.

The country's reserve position with the IMF fell by $17 million to $5.163 billion in the week, as per the data.

Also Read: Forex reserves up by $758 million to lifetime high of $586 billion

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