MUMBAI, Dec 30 Reuters  India39;s foreign exchange reserves fell to 562.81 billion in the week through Dec. 23, the Reserve Bank of India39;s RBI statistical supplement showed on Friday.

For the week ended Dec. 16, the country39;s reserves were at 563.50 billion. Overall, they have declined from 632.7 billion at the beginning of this year.

The central bank, which has on several occasions this year intervened in the spot and forwards market to protect the rupee, has said changes in reserves also stem from valuation gains or losses.

The rupee has been calmer over the past couple of weeks, trading on the weaker side of 82.50 in a narrow range for the week ended Dec. 23. Traders have said staterun banks were likely offering dollars on behalf of the RBI to keep the rupee from breaching 83 per dollar.

For the current week, rupee traded in an even tighter range in thin volumes and ended at 82.72 on Friday.

Reporting by Anushka Trivedi; Editing by Vinay Dwivedi

Source Reuters