India's forex reserves decline by over $1.4 billion

New Delhi: India’s foreign exchange reserves declined by $1.466 billion during the week ended December 31, 2021. The Reserve Bank of India’s forex reserves decreased to $633.614 billion from $635.080 billion.

The country's forex reserves comprise 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 $1.480 billion to $569.889 billion.

However, the value of the country's gold reserves inched up by $14 million to $39.405 billion. Also Read: Here's how much salary Apple CEO Tim Cook earned in 2021

The SDR value remained flat at $19.114 billion.Similarly, the country`s reserve position with the IMF was constant at $5.207 billion. Also Read: Buy gold at discounted price: RBI Gold Bond Scheme Series IX subscription opens on Monday