Indias Foreign Exchange reservesfell by $70.1 billion in 2022, data released by theReserve Bank Of India (RBI)shows. The forex reserves stood at $562.9 billion in the week ended December 30. The decline in theforex reservesis partly due to theRBIinterventionin the currency markets to stave off volatility and partly on account of depreciation of other major currencies held by the central bank. The RBI net sold $33.42 billion till September,Union finance minister Nirmala Sitharamansaid. The RBI holds major currencies includingpound sterling, yen and euroin its reserves, which are expressed in US dollar terms.