India's forex reserves down by $4.531 billion to $629.755 billion

The country's foreign exchange reserves declined by $4.531 billion to stand at $629.755 billion in the week ended January 28, RBI data showed

The country's foreign exchange reserves declined by USD 4.531 billion to stand at USD 629.755 billion in the week ended January 28, RBI data showed on Friday.

In the previous week ended January 21, the reserves had decreased by USD 678 million to USD 634.287 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.

During the reporting week ended January 28, the decrease in the reserves was on account of a fall in the foreign currency assets (FCAs), a major component of the overall reserves, and gold reserves.

FCAs tumbled by USD 3.504 billion to USD 566.077 billion, as per weekly data by the Reserve Bank of India (RBI).

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 dipped by USD 844 million to USD 39.493 billion in the reporting week.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by USD 141 million to USD 19.011 billion.

The country's reserve position with the IMF also dipped by USD 42 million to USD 5.174 billion, the data showed.