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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