World Economy

India Forex Reserves Fall

India Forex Reserves FallIndia Forex Reserves Fall

India’s foreign exchange reserves declined by $935.2 million to $359.671 billion in the week to December 23 on account of fall in foreign currency assets, the Reserve Bank said Friday, PTI reported.  In the previous week, the reserves had fallen by $2.380 billion to $360.606 billion. They had touched a life-time high of $371.99 billion in the week to September 30, 2016. Foreign currency assets, a major component of the overall reserves, dipped by $933.2 million to $335.970 billion in the reporting week. FCAs, expressed in US dollar terms, include the effects of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

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