India's foreign exchange (forex) reserves slumped by $7.941 billion to $553.105 billion for the week ended September 2, the lowest level in almost two years, the Reserve Bank of India (RBI) data showed.
In financial parlance, SDRs are international reserve assets which are created by the International Monetary Fund (IMF) and are periodically allocated to its members in proportion to their quotas.
FCAs, the largest component of the forex reserves, edged lower by $631.6 million to $367.86 billion during the week ended December 14.
India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and India's position with the International Monetary Fund (IMF).
