India's forex reserves fall by $ 908 million to $ 640.100 billion

India's forex reserves fall by $ 908 million to $ 640.100 billion

Mumbai, October 30, 2021

Reversing a two-week uptrend, India's foreign exchange reserves fell by $ 908 million to $ 640.100 billion during the week ended October 22, the Reserve Bank of India (RBI) said here on Friday.

The country's forex reserves had risen by $ 1.492 billion to $ 641.008 billion in 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 $ 853 million to $ 577.098 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 down by $ 138 million to $ 38.441 billion, while its special drawing rights (SDRs) inceased by 74 million to $ 19.321 billion.

The country's reserve position in the International Monetary Fund (IMF) went up by $ 10 million to $ 5.240 billion, the bulletin added.

NNN

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