Forex: Foreign exchange reserves fell by $ 10.75 billion to $ 690.43 billion, RBI released data
Forex: According to data released by the Reserve Bank of India, foreign exchange assets, a major component of foreign exchange reserves, fell by $ 10.542 billion to $ 602.101 billion in the week ended October 11. Foreign exchange assets expressed in dollar terms include the effect of appreciation or depreciation of non-US units such as euro, pound, and yen held in the foreign exchange reserves.
For the second week in a row, foreign exchange reserves fell. The Reserve Bank of India reports that for the week ending October 11, foreign exchange reserves decreased by $10.746 billion to $690.43 billion, marking one of the largest declines in recent times.
The reserves decreased by $ 3.709 billion to $ 701.176 billion in the prior week that was reviewed. At the end of September, the reserves had reached an all-time high of USD 704.885 billion.
According to figures issued on Friday, foreign currency assets, a significant part of the foreign exchange reserves, decreased by USD 10.542 billion to USD 602.101 billion in the week ending October 11. The impact of non-US units like the euro, pound, and yen held in the foreign exchange reserves' appreciation or depreciation is included in the foreign currency assets, represented in terms of dollars.
According to the RBI, gold reserves fell by USD 98 million during the course of the week to USD 65.658 billion. Special drawing rights (SDRs) decreased by USD 86 million to USD 18.339 billion, according to the apex bank. India's reserve position with the IMF dropped by USD 20 million to USD 4.333 billion in the week under review, according to figures from the apex bank.
