According to RBI data, India’s foreign exchange reserves fell by $3.23 billion to $654.86 billion for the week ending 6th December 2024.

India’s forex reserves dropped by $3.23 billion to $654.86 billion, down from $658.09 billion the previous week.

The decline was mainly due to a $3.22 billion fall in Foreign Currency Assets (FCA), which totaled $565.62 billion.

Gold reserves saw a small decline of $43 million, reaching $66.94 billion.

Special Drawing Rights (SDRs) increased by $25 million to $1.80 billion. The Reserve Position in the IMF rose by $12 million to $4.27 billion.

The RBI intervenes in the market by managing liquidity, including selling dollars, to prevent a sharp depreciation of the rupee.

The RBI monitors forex markets and intervenes only to maintain stability and reduce excessive exchange rate volatility without aiming for a specific target level.

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