India's forex reserves drop by USD 5.68 billion to USD 561.26 billion
In October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended February 17, the foreign currency assets, a major component of the reserves, decreased by USD 4.515 billion to USD 496.072 billion, according to the
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.
Gold reserves decreased for the third week running and were USD 1.045 billion down to USD 41.817 billion, the RBI said.
The Special Drawing Rights (SDRs) were also down by USD 87 million to USD 18.267 billion, the apex bank said.
The country's reserve position with the
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