India's foreign exchange reserves fell by $ 471.4 mn

The Reserve Bank of India's (RBI) foreign exchange reserves fell by $471.4 million for the week ended January 2 to $319.24 billion, shows Reserve Bank of India (RBI) data released Friday. Foreign currency assets, a key component of reserves, fell by $863.2 million to $294.54 billion. Gold reserves rose $392.7 million during the week at $19.38 billion. For the week under review, the Special Drawing Rights (SDRs) fell by $0.7 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $ 0.2 million to $1.14 billion.