India's central bank on Friday reported that the country's foreign exchange reserves (Forex) plunged by $1.40 billion in the week ended December 18.
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the Forex reserves stood at $351.10 billion for the week under review.
For the previous week ended December 11, the country's foreign reserves had risen by $407.9 million at $352.50 billion.
The foreign currency assets (FCAs) which constitute the largest component of India's Forex reserves dwindled by $1.36 billion to $328.26 billion in the week under review.
Apart from the US dollar, FCAs consist of nearly 20-25 percent of other major global currencies, securities and bonds.
The individual movements of these currencies against the US dollar impact the overall foreign reserves' value.
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Notwithstanding the fall in overall Forex value, the country's gold reserves remained stagnant at $17.54 billion.
Gold reserves had plunged by $1.14 billion at $17.54 billion during the week ended December 4, as international prices crashed to a six-year low.
However, the special drawing rights (SDRs) were lower by $24.3 million at $3.99 billion.
Similarly, the country's reserve position with the International Monetary Fund (IMF) slipped. It fell by $7.8 million to $1.29 billion.