India’s Forex Reserves Decline Marginally To $574.821 Billion; Gold Reserves Fall While Foreign Currency Assets Rise

India’s Forex Reserves Decline Marginally To $574.821 Billion; Gold Reserves Fall While Foreign Currency Assets RiseRBI office in Mumbai. (Aniruddha Chowdhury/Mint via Getty Images)

India’s foreign exchange reserves marginally fell by $469 million during the week ending 27 November to $574.821 billion, reports Business Standard.

According to Reserve Bank of India (RBI)’s weekly statistical supplement, forex reserves fell to $574.821 billion from $575.290 billion.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

However, on a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $352 million to $533.455 billion.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

The value of the country’s gold reserves declined by $822 million to $35.192 billion.

In addition to these, the nation's reserve position with the IMF shrank by $1 million to $4.679 billion, while India's special drawing rights with the IMF rose marginally by $2 million to $1.494 billion.