India’s Forex Reserves Fall By USD 8.478 Billion

India’s foreign exchange reserves declined by USD 8.478 billion, reaching USD 644.391 billion for the week ending December 20. This follows a previous drop of USD 1.988 billion. The decline is attributed to revaluation and RBI interventions in the forex market. Foreign currency assets fell by USD 6.014 billion, while Special Drawing Rights and IMF reserves also decreased.