Gold reserves  fell by  $99 million to $47.13 billion during the week, the RBI said.

  India’s foreign exchange  reserves  rose by  $2.816 billion to $606.859 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday. 

  Last  week,  total  reserves  increased by  $6.107 billion to $604.042 billion. 

  It  may  be noted that in October 2021, the  country’s Forex  kitty  reached an all-time high of  USD 645  billion. 

  Reserves were  hit as the central bank  moved  to defend the rupee amid  pressure mainly  caused  by global developments since last year.  Data showed that in  the week  ending  December 8,  foreign currency  holdings – the main  component of  reserves  –  increased by $3.089 billion to $536.699  billion.  

 Expressed in  dollars,  foreign currency assets include the  impact on the price  or depreciation of  non-U.S.  units  such as  the euro, pound  sterling  and yen held in  foreign exchange reserves. 

  Gold reserves  fell by  $99 million to $47.13 billion during the week, the RBI said. 

  The  apex bank said special drawing rights  were  reduced by  $63 million to $18.188  billion.  

  India’s  reserve position with the IMF  fell by  $11 million  to $4.842  billion  during  the reporting week,  according to central  bank  data.  

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