Mumbai Maharashtra India February 19, ANI India's foreign exchange reserves declined by $1.763 billion to $630.19 billion in the week ended February 11 due to a drop in foreign currency assets, according to Reserve Bank of India RBI data.
The foreign currency assets, which is the biggest component of the forex reserves, fell by $2.764 billion to $565.565 billion during the week under review, according to the RBI's weekly statistical supplement.
The foreign currency assets include the effects of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound Sterling and Japanese Yen held in foreign exchange reserves, which are expressed in US dollar terms.
India's reserve position in the International Monetary Fund dropped by $16 million to $5.217 billion.
There was a sharp increase in the value of gold reserves and SDRs. The value of gold reserves went up by $952 million to $40.235 billion during the week under review.