Gold reserves increase $1.828 billion to $67.573 billion during the week; the special drawing rights fall by $79 million to $17.985 billion,
Continuing its downward streak, India’s forex reserves declined by $1.31 billion to $656.582 billion during the week ended November 22, according to the latest RBI data. The reserves had dropped a record $17.761 billion in the previous week ended November 15.
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The forex reserves had hit an all-time high of $704.885 billion in end-September. They have been declining for the past few weeks, even as the rupee has also been under pressure.
For the week ended November 22, foreign currency assets — a major component of the reserves — decreased $3.043 billion to $566.791 billion, according to the RBI data.
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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 increased $1.828 billion to $67.573 billion during the week.
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The special drawing rights (SDRs) were down $79 million to $17.985 billion, the apex bank said.
India’s reserve position with the IMF was also down $15 million to $4.232 billion in the reporting week, the RBI data showed.
