India’s Forex Reserves Decline By Over $870 Mn #Indias #Mumbai

Mumbai, Jan 14 : India’s foreign exchange reserves declined by $878 million during the week ended January 7.

 India’s Forex Reserves Decline By Over $870 Mn #indias #mumbai-TeluguStop.com

The Reserve Bank of India’s Forex reserves decreased to $632.736 billion from $633.614 billion reported for December 31, 2021.

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 $497 million to $569.392 billion.Similarly, the value of the country’s gold reserves inched down by $360 million to $39.044 billion.

Additionally, the SDR value was down by $16 million to $19.098 billion.In addition, the country’s reserve position with the IMF slipped by $5 million to $5.202 billion.

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#Indias #Mumbai