India’s foreign exchange reserves dropped by 2.54 billion dollars, reaching over 635.7 billion dollars in the week ending February 14, according to the latest data released by the Reserve Bank of India (RBI). This decline follows three consecutive weeks of growth in the reserves.
During the last week, foreign currency assets, a major component of the reserves, fell by over 4.51 billion dollars to over 539.59 billion dollars.
Conversely, gold reserves increased by over 1.9 billion dollars, totalling more than 79.15 billion dollars, while Special Drawing Rights rose by 19 million dollars, reaching over 17.89 billion dollars.
The Central Bank’s position in the IMF was up by 14 million dollars, reaching over 4.08 billion dollars.