India’s Forex Reserves Decline Marginally To $574.821 Billion; Gold Reserves Fall While Foreign Currency Assets Rise

India’s foreign exchange reserves marginally fell by $469 million during the week ending 27 November to $574.821 billion, reports Business Standard.

According to Reserve Bank of India (RBI)’s weekly statistical supplement, forex reserves fell to $574.821 billion from $575.290 billion.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

The value of the country’s gold reserves declined by $822 million to $35.192 billion.

In addition to these, the nation's reserve position with the IMF shrank by $1 million to $4.679 billion, while India's special drawing rights with the IMF rose marginally by $2 million to $1.494 billion.