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India's foreign exchange reserves dropped by $5.90 billion to reach $617.30 billion for the week ending January 5. The decline followed seven consecutive weeks of rising reserves. Foreign currency assets (FCAs) decreased by $4.97 billion to $546.65 billion, while gold reserves dropped by $839 million to $47.49 billion.
After touching an 11-month high earlier this week, the dollar index, which tracks the greenback against six other currencies including the euro and yen, edged 0.07% lower to 106.68 after Wednesday's data showed U.S. private payrolls increased far less than expected in September.
India's foreign exchange reserves have decreased by $2.335 billion to $590.702 billion, according to the Reserve Bank of India. Foreign currency assets dropped by $2.55 billion to $523.40 billion, while gold reserves increased by $307 million to $44.31 billion. Reserve position in the IMF decreased by $11 million to $5.02 billion.
India's foreign exchange reserves dropped by $867 million to $593.037 billion for the week ending September 15, according to data from the Reserve Bank of India (RBI). The decrease was primarily due to a drop in foreign currency assets and gold reserves.
This is the first increase in the forex kitty after declining for three consecutive weeks.