MUMBAI, Nov 9 : India’s foreign exchange reserves fell by USD 5.623 billion to USD 689.733 billion during the week ended October 31, marking a cumulative decline of USD 21.869 billion over the past three weeks.
According to data released by the Reserve Bank of India (RBI), in the previous week ended October 24, the reserves had dropped by USD 6.925 billion to USD 695.355 billion.
As per the RBI’s data issued on November 7, the foreign currency assets (FCA) – the largest component of the reserves – declined by USD 1.957 billion to USD 564.591 billion during the week ended October 31. The FCA includes holdings of currencies such as the US dollar, Japanese yen, euro, and British pound, whose values fluctuate depending on exchange rates against the dollar.
During the week under review, gold reserves fell sharply by USD 3.81 billion, bringing the total to USD 101.726 billion.
Meanwhile, the reserve position with the International Monetary Fund (IMF) increased by USD 164 million to USD 4.772 billion, while Special Drawing Rights (SDRs) declined by USD 19 million to USD 18.644 billion.
(UNI)
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