India’s forex reserves decreased by USD 1.145 billion to USD 640.874 billion for the week ended on November 5 on a fall in currency and gold assets, the Reserve Bank said on Friday. 

The overall reserves had increased by USD 1.919 billion to USD 642.019 billion for the previous reporting week. Foreign currency assets, a major part of the overall reserves, decreased by USD 881 million to USD 577.581 billion for the reporting week, the RBI said in the weekly data. 

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. 

Value of the gold reserves decreased by USD 234 million to USD 38.778 billion in the reporting week, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) decreased by USD 17 million to USD 19.287 billion. 

The country’s reserve position with the IMF decreased by USD 14 million to USD 5.228 billion in the reporting week, the data showed.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here