India's Forex Reserves Fall To $629.75 Billion
NDTV
India's foreign exchange reserves fell by $4.531 billion to $629.755 billion in the week ended January 28 due to sharp drop in foreign currency assets
India's foreign exchange (forex) reserves declined by $4.531 billion to $629.755 billion in the week ended January 28 due to a sharp drop in foreign currency assets and fall in the value of gold reserves, the Reserve Bank of India (RBI) data showed.
The forex reserves had declined by $678 million in the previous week.
The foreign currency assets, which is the biggest component of the forex reserves, slumped by $3.504 billion to $566.077 billion during the week under review, according to the RBI's weekly statistical supplement.
The foreign currency assets had dipped by $1.115 billion in the week ended January 21.
