India's foreign exchange dip lower by $160 mn

Mumbai: India's foreign exchange reserves dipped lower by $160 million during the week ended December 17. The Reserve Bank of India's forex reserves decreased to $635.667 billion from $635.828 billion during the week ended December 10.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $645 million to $572.216 billion.

However, the value of the country's gold reserves rose by $475 million to $39.183 billion.

The SDR value remained static at $19.089 billion, while the country's reserve position with the IMF rose by $9 million to $5.179 billion.