India's forex reserves decline further by $8.478 billion to $644.391 billion

The countrys forex reserves dropped by a further $8.478 billion to $644.391 billion for the week ended December 20, the RBI said on Friday.

In the previous reporting week, the reserves had dropped by $1.988 billion to a six-month low of $652.869 billion.

Foreign currency assets decreased by $6.014 billion to $556.562 billion, the data released on Friday showed.

Gold reserves decreased by $2.33 billion to $65.726 billion during the week. The Special Drawing Rights (SDRs) were down by $112 million to $17.885 billion, the apex bank said.

Indias reserve position with the IMF was also down by $23 million to $4.217 billion in the reporting week, the central bank data showed.

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