India’s forex reserves decline by over $1.7 bn

Mumbai, Feb 18 : Indias foreign exchange reserves fell by $1.763 billion during the week ended February 11.

The Reserve Bank of Indias forex reserves decreased to $630.190 billion from $631.953 billion reported for February 4.The countrys forex reserves comprises of 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 $2.764 billion to $565.565 billion.However, the value of the countrys gold reserves increased by $952 million to $40.235 billion.The SDR value also rose by $65 million to $19.173 billion.However, the countrys reserve position with the IMF fell by $16 million to $5.217 billion.#Indias #Mumbai #Mumbai .