India’s forex reserves down by $1.4 bn to over $631 bn

India’s foreign exchange reserves declined by $1.425 billion during the week ended February 25.

The Reserve Bank of India’s forex reserves decreased to $631.527 billion from $632.952 billion reported for February 18.

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 $2.228 billion to $564.832 billion. However, the value of the country’s gold reserves increased by $958 million to $42.467 billion.

On the other hand, the SDR value declined by $122 million to $19.040 billion. The country’s reserve position with the IMF also slipped by $34 million to $5.187 billion.

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