India’s forex reserves drop by USD 3.235 billion for week ending Dec 6
India's forex reserves dropped by USD 3.235 billion to USD 654.857 billion for the week ending December 6.
India’s foreign exchange (Forex) reserves depleted by $1.75 billion during the week ended June 29, official data showed on Friday.
According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the overall forex reserves declined to $406.05 billion from $407.81 billion reported for the week ended June 22.
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India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI’s position with the International Monetary Fund (IMF).
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Segment-wise, FCAs — the largest component of the Forex reserves — decreased by $1.78 billion to $380.71 billion during the week under review.
Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.
As per the data, the value of the country’s gold reserves rose by $38 million to $21.36 billion.
The SDRs’ value inched down by $5.2 million to $1.48 billion, while the country’s reserve position with the IMF slipped by $8.7 million to $2.48 billion.
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