India's Foreign Exchange Reserves Decline By $249 Million To $583.697 Billion

India's foreign exchange reserves fell by $249 million during the week ended 12 February.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $583.697 billion from $583.945 billion reported for the week ended 5 February.

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

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $1.387 billion to $540.951 billion.

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.

However, the value of the country's gold reserves increased by $1.260 billion to $36.227 billion.

Besides, the SDR value stood higher by $10 million at $1.513 billion.

Nonetheless, the country's reserve position with the IMF decreased by $132 million to $5.006 billion.

(With inputs from IANS)