Forex reserves down by $1.466 bn to $633.614 bn

The country's foreign exchange reserves declined by $ 1.466 billion to $633.614 billion in the week ended December 31, RBI data showed.

In the previous week ended December 24, the reserves dipped by $ 587 million to $635.08 billion. It touched a life-time high of $642.453 billion in the week ended September 3, 2021. During the reporting week ended December 31, the decline in foreign exchange reserves was on account of a fall in foreign currency assets (FCA), a major component of the overall reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA declined by $ 1.48 billion to $569.889 billion in the reporting week, the RBI data 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 $14 million to $ 39.405 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $ 19.114 billion in the reporting week, the RBI said.

The country's reserve position with the IMF was also unchanged at $ 5.207 billion in the reporting week, the data showed.

Also Read: Adani Group says it won tender to supply imported coal to NTPC

Also Read: Silver ETF is the new arena for mutual funds to compete