India's forex reserves fall by $ 763 million to $ 640.112 billion

India's forex reserves fall by $ 763 million to $ 640.112 billion

Mumbai, November 20, 2021

Maintaining a downtrend for the second consecutive week, India's foreign exchange reserves fell by $ 763 million to $ 640.112 billion during the week ended November 12, the Reserve Bank of India (RBI) said here on Friday.

The country's forex reserves had dipped by $ 1.145 billion to $ 640.874 billion during the previous week.

In its weekly statistical supplement, the central bank said that foreign currency assets, which constitute a major chunk of the foreign exchange reserves, had gone down by $ 2.094 billion to $ 575.487 billion during the week.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

According to the bulletin, the country’s gold reserves went up by $ 1.461 billion to $ 40.239 billion, while its special drawing rights (SDRs) decreased by $ 103 million to $ 19.184 billion during the week.

The country's reserve position in the International Monetary Fund (IMF) went down by $ 27 million to $ 5.201 billion, the bulletin added.

NNN

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