India’s foreign exchange reserves declined by USD 8.319 billion to USD 566.948 billion in the week ending on February 10, according to the Reserve Bank of India’s latest data.
This is reported to be the sharpest slump in the overall forex reserves in over 11 months. During the week that ended on February 3, the reserves declined by USD 1.494 billion to USD 575.267.
According to RBI’s latest data, India’s foreign currency assets, the biggest component of the forex reserves, declined USD 7.108 billion to USD 500.587 billion.Gold reserves declined by USD 919 million to USD 42.862 billion.At the start of last year 2022, the overall forex reserves were at about USD 633 billion.