economy

Indias forex reserves decline $763 mn to $640.11 bn

Indias forex reserves decline $763 mn to $640.11 bn

Indias foreign exchange reserves declined by $763 million to $640.112 billion in the week ended 12 November, the Reserve Bank of Indias (RBI) weekly data released today showed. In the previous week ended 5 November, the reserves had decreased by $1.145 billion to $640.874 billion. It had touched a lifetime high of $642.453 billion in the week ended 3 September this year, the RBI data showed. In the reporting week, the decline in the foreign exchange reserves was on account of a dip in foreign currency assets (FCA), a major component of the overall reserves, the central bank said. FCA dropped by $2.094 billion to $575.487 billion in the reporting week, as per the data. 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. Gold reserves were up by $1.461 billion to $40.239 billion in the reporting week. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped $103 million to $19.184 billion. The countrys reserve position with the IMF was down by $27 million to $5.201 billion in the reporting week, the data showed. Download.

economy 2021-11-19 Livemint