Forex reserves dip by $4.531 billion to $629.755 billion

The country's foreign exchange reserves declined by 4.531 billion to stand at $629.755 billion in the week ended January 28, RBI data showed on Friday.

In the previous week ended January 21, the reserves had decreased by $678 million to $634.287 billion. It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.

During the reporting week ended January 28, the decrease in the reserves was on account of a fall in the foreign currency assets (FCAs), a major component of the overall reserves, and gold reserves.

FCAs tumbled by $3.504 billion to $566.077 billion, as per weekly data by the Reserve Bank of India (RBI).

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 dipped by $844 million to $ 39.493 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $141 million to $19.011 billion.

The country's reserve position with the IMF also dipped by $ 42 million to $5.174 billion, the data showed.

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