India's forex reserves decline to 5-month low of $654.8 billion

Indias foreign exchange reserves dropped by $3.235 billion to $654.857 billion, a five-month low, for the week ended December 6, data released by the Reserve Bank of India (RBI) revealed on Friday.

Foreign currency assets, a major component of the reserves, decreased by $3.228 billion to $565.623 billion for the week ended December 6, 2024, as per the data.

Meanwhile, gold reserves dropped by $43 million to $66.936 billion in the week under consideration. The Special Drawing Rights (SDRs) increased by $25 million to $18.031 billion, RBI data showed.

Indias reserve position with the IMF rose by $12 million to $4.266 billion in the reporting week.

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