India’s forex reserves decreased by USD 587 million to USD 635.08 billion, the RBI said.
On December 17, the overall reserves had decreased by USD 160 million to USD 635.667 billion. The kitty had touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.
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For the reporting week ended December 24, the dip in the overall reserves was a decline in foreign currency assets (FCA), a significant component of the overall reserves.
