India’s Foreign Exchange Reserves Down by Over $760mn

Mumbai:  India’s foreign exchange reserves fell by $763 million during the week ended November 12.

The Reserve Bank of India’s forex reserves declined to $640.112 billion from $640.874 billion reported for the week ended November 5.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country’s reserve position with the IMF.

On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $2.094 billion to $575.487 billion.

However, the value of the country’s gold reserves gained by $1.461 billion to $40.239 billion.

On the other hand, the SDR value was lower by $103 million to $19.184 billion, while the country’s reserve position with the IMF inched-down by $27 million to $5.201 billion.

(IANS)