India forex reserves decline further by $1.98 billion to $652.87 billion

India's foreign exchange reserves dipped by $1.98 billion to $652.87 billion as of December 13, according to data shared by the Reserve Bank of India (RBI) on Friday.

The Weekly Statistical Supplement released by the RBI showed that the primary contributor to this decline was the drop in Foreign Currency Assets (FCAs), which fell by $3 billion to $562.58 billion.

Meanwhile, gold reserves were up by $1.12 billion, bringing the total to $68 billion.

The Special Drawing Rights (SDRs) dipped by $35 million, now totaling $17.99 billion, while the reserve position in the International Monetary Fund (IMF) contracted by $27 million, standing at $42.40 billion.

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