Forex reserves fall $1.763 bn to $630.19 bn

Mumbai: The country's foreign exchange reserves declined by $1.763 billion to $630.19 billion in the week ended on February 11, the RBI data showed.

In the previous week ended February 4, the reserves had risen by $2.198 billion to $631.953 billion. It touched a lifetime high of $642.453 billion in the week ended on September 3, 2021.

During the reporting week, the fall in the reserves was on account of a decline in the foreign currency assets (FCA), a major component of the overall reserves. FCA dipped by $2.764 billion to $565.565 billion in the week ended February 11.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $952 million to $40.235 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) increased by $65 million to $19.173 billion, RBI said. The country's reserve position with the IMF decreased by $16 million to $5.217 billion in the reporting week, the data showed.