India's Forex Reserves See Significant Dip Amid Volatility Measures

India's forex reserves fell by USD 4.112 billion to USD 640.279 billion in the week ending December 27, following an earlier drop of USD 8.478 billion. The decline continues as RBI manages market volatility. Foreign currency assets and Special Drawing Rights decreased, while gold reserves rose.

India's foreign exchange reserves have experienced a notable decline, decreasing by USD 4.112 billion to USD 640.279 billion in the week ending December 27, as per the Reserve Bank of India (RBI).

The reserves, which had previously dropped by USD 8.478 billion to USD 644.391 billion in the preceding week, are being influenced by the central bank's market interventions and the revaluation of currency assets.

While foreign currency assets declined by USD 4.641 billion, gold reserves saw a slight increase. The RBI continues to manage forex market volatility to stabilize the rupee's value.

(With inputs from agencies.)