The country's forex reserves have been on a declining trend for the last few weeks, and the drop has been attributed to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee.
Mohammad Haris | News18.com
January 18, 2025,
India’s foreign exchange (forex) reserves declined $8.714 billion to $625.871 billion in the week ended January 10, according to the latest RBI data. The country’s forex kitty is 11.20 per cent lower as against the peak level of $704.885 billion recorded in end-September. In the previous week ended January 3, the reserves had fallen by $5.693 billion to $634.585 billion.
The reserves have been on a declining trend for the last few weeks, and the drop has been attributed to revaluation along with forex market interventions by the RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of $704.885 billion in end-September.
For the week ended January 10, foreign currency assets, a major component of the reserves, decreased by $9.469 billion to $536.011 billion, the data released on Friday showed. 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.Gold reserves increased by $792 million to $67.883 billion during the week. The special drawing rights (SDRs) were down by $33 million to $17.781 billion, the RBI