India's Forex Reserves Fall $5.24 Billion To $617.23 Billion

Indias forex reserves declined $5.24 billion to $617.23 billion for the week ended February 9, according to the latest RBI data. The forex kitty stood at $622.5 billion for the week ended February 2.

The reserves had peaked in October 2021, hitting USD 645 billion.

In the current financial year 2023-24, the forex reserves have increased $50.28 billion, the RBI data showed.

Foreign currency assets, which constitute the largest component of the reserves, dropped $4.07 billion to $546.52 billion during the week under review, as per the latest data.

The countrys reserve position with the IMF also declined $28 million to $48.32 billion in the reporting week.

 

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