The country’s foreign exchange reserves declined by $ 763 million to $ 640.112 billion in the week ended Nov. 12, according to RBI data.
During the previous week ended Nov. 5, reserves had declined by $ 1.145 billion to $ 640.874 billion. It hit a lifetime high of $ 642.453 billion in the week ended September 3, 2021.
During the week of the report, the decline in foreign exchange reserves was due to a decline in foreign currency holdings (FCA), a major component of aggregate reserves, according to weekly data from the Reserve Bank of India (RBI) released on Friday.
The FCA fell $ 2.094 billion to $ 575.487 billion in the week of the report, the data showed.
Expressed in dollars, foreign currency assets include the effect of the appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves increased by $ 1.461 billion to $ 40.239 billion in the week under review.
Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) fell from $ 103 million to $ 19.184 billion.
The country’s reserve position with the IMF declined from $ 27 million to $ 5.11 billion during the week of the report, the data showed.
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