ECONOMY

Forex Reserves of India Went Down by $1.268 Billion in First Week of 2023

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The foreign exchange of India reserves went down by $1.268 billion to $561.583 billion in the first week, as per RBI (Reserve of India).

India’s foreign currency assets, the most significant component of the forex reserves, went down by $1.747 billion to $496,441 billion. Last year, the overall forex reserves were at about $633 billion.

However, Gold reserves hit a high of $461 million to $41.784 billion. The country’s foreign exchange reserves reportedly touched an all-time high of about $645 billion in October 2021.

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