Foreign exchange reserves declined by $2.67 billion to $682.13 billion
New Delhi| India’s foreign exchange reserves declined by $2.675 billion to $682.13 billion during the week ending November 1. RBI gave this information. In the previous reporting week, total reserves had decreased by USD 3.463 billion to USD 684.805 billion. At the end of September, reserves had reached an all-time high of USD 704.885 billion.
According to data released, foreign currency assets, the major component of foreign exchange reserves, declined by $3.902 billion to $589.849 billion in the week ending November 1. Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves rose by $1.224 billion to $69.751 billion during the week, the RBI said. Special Drawing Rights (SDRs) dropped by $1 million to $18.219 billion, the top bank said. According to the data, India’s reserve position with the IMF increased by $4 million to $4.311 billion in the week under review.
