The drop marks one of the largest decreases in India’s forex reserves in recent years, following three consecutive weeks of growth, News.Az reports, citing Xinhua.
RBI data showed that Foreign Currency Assets fell by $7.622 billion to $551.99 billion, while Gold Reserves decreased by $2.058 billion to $111.262 billion.
Special Drawing Rights declined by $25 million to $18.778 billion, and India’s position with the International Monetary Fund fell by $105 million to $4.771 billion.
