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India's forex reserves fall to $640.27 bn, down by $4.1 bn as of Dec 27
India's foreign exchange reserves dipped by $4.1 billion to $640.28 billion as of December 27, 2024. The significant drop was largely due to a $4.6 billion reduction in Foreign Currency Assets. Despite this, gold reserves increased by $541 million. India continues to rank 4th globally in foreign exchange reserves, demonstrating economic strength.
India's foreign exchange reserves dipped by $4.1 billion to $640.28 billion as of December 27, 2024, according to the data shared by the Reserve Bank of India.
The country's forex reserves had dropped by $8.4 billion for the week ending December 20 and had settled at $644.39 billion.
The Weekly Statistical Supplement released by the RBI showed that the primary contributor to this decline was the drop in Foreign Currency Assets (FCAs), which fell by $4.6 billion to $551.92 billion.
Meanwhile, gold reserves were up by $541 million, bringing the total to $66.26 billion.
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