India's forex reserves drop by USD 878 million to USD 632.73 billion

ANI
15 Jan 2022, 03:18 GMT+10

Mumbai [India], January 14 (ANI): India's foreign exchange (forex) reserves fell by USD 878 million to USD 632.736 billion for the week ended January 7, 2022, the Reserve Bank of India (RBI) data showed on Friday.

The forex reserves have declined by nearly $10 billion from the all-time high of $642.453 billion recorded for the week ended September 3, 2021.

The country's forex reserves had dropped by $1.466 billion to $633.614 billion recorded for the week ended December 31.

According to the RBI's Weekly Statistical Supplement, the decline was recorded in all categories of the forex reserves during the week ended January 7, 2022.

The forex reserves consist of foreign currency assets, gold, SDRs and reserve position in the International Monetary Fund (IMF).

The foreign currency assets declined by $497 million to $569.392 billion. Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound sterling, Japanese Yen held in the foreign exchange reserves.

The value of India's gold reserves declined by $360 million to $39.044 billion for the week under review.

India's Special Drawing Rights (SDRs) with the International Monetary Fund fell by $16 million to $19.098 billion.

India's reserve position with the IMF fell by $5 million to $5.202 billion during the week ended January 7, 2022. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.

More Information

2 ℃

Cloudy in Birmingham

International

Section

Chevron, Total to end business ties with Myanmar

PARIS, France: Two of the largest energy companies have announced that they are leaving Myanmar, citing human rights abuses and ...

Restaurants say Minneapolis vaccine rules unfair, sue city

MINNEAPOLIS, Minnesota: The city of Minneapolis and its mayor are being sued by restaurant and bar owners, in response to ...

U.S. unlikely to organize evacuations for Americans in Ukraine

US citizens in Ukraine advised to board commercial flights in case push comes to shove A spokesperson for the US ...

Hundreds of Cubans expected to receive prison terms after July riots

HAVANA, Cuba: Courts in Cuba concluded six mass trials involving individuals allegedly participating in the largest and most unruly demonstrations ...

UK's Johnson announces easing of COVID-19 restrictions

LONDON, England: UK Prime Minister Boris Johnson has said that since infections are leveling off in most parts of the ...

Slovenia, Taiwan to open representative offices, China condemns move

BEIJING, China: Slovenia's plans to upgrade relations with self-governing Taiwan have angered China, which accused Taiwan of ratcheting up diplomatic ...