India's forex reserves decline by $587 mn
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
India's foreign exchange reserves fell by $587 million during the week ended December 24.
The Reserve Bank of India's forex reserves decreased to $635.080 billion from $635.667 billion.
The forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $847 million to $571.369 billion.
However, the value of the country's gold reserves rose by $207 million to $39.390 billion. Similarly, the SDR value rose by $24 million to $19.114 billion, while the country's reserve position with the IMF rose by $28 million to $5.207 billion.
