India’s forex reserves down by over $4 bn

India’s foreign exchange reserves declined by $4.531 billion during the week ended January 28.

The Reserve Bank of India’s forex reserves decreased to $629.755 billion from $634.287 billion reported for January 21.

The country’s forex reserves comprises of 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 $3.504 billion to $566.077 billion. Similarly, the value of the country’s gold reserves decreased by $844 million to $39.493 billion.

The SDR value fell by $141 million to $19.011 billion and the country’s reserve position with the IMF declined by $42 million to $5.174 billion.

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