Forex Update: India’s Foreign Exchange Reserves Fall by $2.67 Billion to $682.13 Billion
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India’s gold reserves increase by $1.224 billion to $69.751 billion during the week ended November 1; special drawing rights fall by $1 million to $18.219 billion.
Foreign currency assets, a major component of the reserves, decreases by $3.902 billion to $589.849 billion.
India’s foreign exchange (forex) reserves declined by $2.675 billion to $682.13 billion for the week ended November 1, according to the latest RBI data. In the previous reporting week, the overall reserves had dropped by $3.463 billion to $684.805 billion.
India’s gold reserves increased by $1.224 billion to $69.751 billion during the week. The special drawing rights (SDRs) were down by $1 million to $18.219 billion, according to the RBI.
At the end of September, the forex reserves had hit an all-time high of $704.885 billion.
For the week ended November 1, foreign currency assets, a major component of the reserves, decreased by $3.902 billion to $589.849 billion, the data released on Friday showed.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
India’s reserve position with the IMF was up by USD 4 million to USD 4.311 billion in the reporting week, the data showed.
