Forex reserves fall by $4.531 billion to $629.74 billion

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Forex reserves fall by $4.531 billion to $629.74 billion

The country's foreign exchange reserves declined by USD 4.531 billion to reach the US$ 629.755 billion in the week ended January 28, RBI data showed on Friday. It touched a lifetime high of $ 642.453 billion in the week ended September 3, 2021, the week ended September 3, 2021. The foreign currency assets that are FCAs a major component of the overall reserves, and gold reserves, resulted in a decrease in the reserves during the reporting week. The foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in foreign exchange reserves, as per weekly data by the Reserve Bank of India RBI. In the reporting week, gold reserves fell by USD 844 million to USD 39.493 billion. The country's reserve position with the IMF also fell by USD 42 million to USD 5.174 billion, according to the data.