India’s forex reserves fall by 2.39 bln USD to 560 bln USD
March 18, 2023
NEW DELHI — India’s foreign exchange reserves declined by 2.39 billion U.S. dollars to 560 billion dollars as of the week ended March 10, showed data from the Reserve Bank of India (RBI) Friday.
The data shows India’s foreign currency assets also decreased by 2.2 billion dollars to 494.86 billion dollars.
The country’s gold reserves and SDR holdings also reduced on March 10, with both reserves falling by 110 million dollars and 53 million dollars, respectively.
India’s gold reserves and SDR holdings now stand at 41.92 billion dollars and 18.12 billion dollars, respectively.
The country’s reserve position in the International Monetary Fund also fell by 11 million dollars, taking it to 5.09 billion dollars, the data showed.