India’s foreign currency reserves are down by more than $1.7 billion

Mumbai, Dec 10 : Indias foreign exchange reserves fell by $1.783 billion during the week ended December 3.

The Reserve Bank of Indias forex reserves decreased to $635.905 billion from $637.687 billion reported for the week.Indias forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the countrys reserve position with the IMF.On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.483 billion to $573.181 billion.Similarly, the value of the countrys gold reserves fell by $407 million to $38.418 billion.However, the SDR value rose by $90 million to $19.126 billion, and the countrys reserve position with the IMF was up $17 million to $5.180 billion.#Indias #eign #currency #Mumbai #Mumbai .