Mumbai, Jan. 12 -- India's foreign exchange reserves declined by USD 5.898 billion to USD 617.303 billion in the week that ended on January 5, 2023, the latest data released by the Reserve Bank of India showed.

During the week, India's foreign currency assets (FCA), the biggest component of the forex reserves, declined from USD 4.966 billion to USD 546.650 billion, the central bank's weekly statistical data showed.

Gold reserves during the week declined by USD 839 million to USD 47.489 billion.

In the calendar year 2023, the RBI added about USD 58 billion to its foreign exchange kitty. In 2022, India's forex kitty slumped USD 71 billion cumulatively.

Forex reserves, or foreign exchange reserves (FX reserves), are assets that are held ...