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India's forex reserves further fall to 625.87 bln USD

0 Comment(s)Print E-mail Xinhua, January 17, 2025
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NEW DELHI, Jan. 17 (Xinhua) -- India's foreign exchange (forex) reserves continued to fall for the sixth straight week, down by 8.714 billion U.S. dollars to 625.871 billion dollars during the week ended Jan. 10, bank data showed on Friday.

This was the biggest fall in the past two months, and the total forex reserves stood at the lowest in the past 10 months, according to the official data released by the country's central bank the Reserve Bank of India (RBI).

Cumulatively, the country's forex reserves had fallen by around 23.5 billion dollars during the past five weeks.

According to an online report by "The Times of India," the continuous decline in forex reserves was attributed to revaluation and the RBI's interventions in the forex market to stabilize Indian Rupee's fluctuations.

During the week ended Jan. 10, the forex reserves' biggest component Foreign Currency Assets (FCAs) fell by 9.469 billion dollars to 536.011 billion dollars, as the Gold Reserves increased by 792 million dollars to 67.883 billion dollars. Enditem

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