India’s foreign exchange reserves dropped by USD 4.112 billion to USD 640.279 billion through the week ended December 27, the Reserve Financial institution mentioned on Friday. Within the earlier reporting week, the general kitty had dropped by USD 8.478 billion to USD 644.391 billion.
The reserves have been declining for the previous few weeks, and the drop has been attributed to revaluation together with foreign exchange market interventions by RBI to assist scale back volatility within the rupee.
The foreign exchange reserves had elevated to an all-time excessive of USD 704.885 billion in end-September.
For the week ended December 27, overseas foreign money belongings, a serious part of the reserves, decreased by USD 4.641 billion to USD 551.921 billion, the information launched on Friday confirmed.
Expressed in greenback phrases, the overseas foreign money belongings embody the impact of appreciation or depreciation of non-US items just like the euro, pound and yen held within the overseas change reserves.
Gold reserves elevated by USD 541 million to USD 66.268 billion through the week, the RBI mentioned.
The Particular Drawing Rights (SDRs) had been down by USD 12 million to USD 17.873 billion, the apex financial institution mentioned.
India’s reserve place with the IMF was unchanged at USD 4.217 billion within the reporting week, the apex financial institution knowledge confirmed.
