The Reserve Bank Of India (RBI) has provided updated data on Foreign Exchange reserves. The country’s foreign exchange reserves fell by $ 763 million to $ 640.112 billion in the week ending November 12, according to new figures.
Highlights:
In the week ending November 5, foreign exchange reserves fell by USD 1.145 billion to USD 640.874 billion. Reserves, on the other hand, hit a new high of USD 642.453 billion in the week ending September 3, 2021.
The Reserve Bank of India’s (RBI) weekly data shows that the reduction in forex reserves this reporting week was due to a drop in foreign currency assets (FCA), a major component of overall reserves. FCA fell $2.094 billion to $575.487 billion in the reporting week, according to the data.
Foreign currency assets comprise the effect of appreciation or depreciation of non-US units held in foreign exchange reserves, such as the euro, pound, and yen, expressed in dollar terms. In the reporting week, gold reserves increased by $ 1.461 billion to $ 40.239 billion.