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Economy - Reports

India's forex reserves drop by $2.54 billion to $635.721 billion

24-Feb-2025, 08:53
India's foreign exchange reserves snapped a three-week gaining streak to drop to $635.72 billion as of February 14, coming off over one-month highs, data released by the central bank on Friday showed.

Foreign currency assets, the largest component of forex reserves, dropped by $4.515 billion to $539.591 billion.

Gold reserves, however, saw a rise of $1.942 billion, reaching $74.15 billion during the week.

Meanwhile, special drawing rights (SDRs) increased by $19 million to $17.897 billion, and India's reserve position with the International Monetary Fund (IMF) edged up by $14 million to $4.083 billion.