Finance
India’s foreign reserves fell by USD 10.746 billion to USD 690.43 billion for the week ended October 11, one of the greatest declines in recent times, according to the RBI on Friday.
In the preceding reporting week, the reserves fell by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves reached an all-time high of USD 704.885 billion.
For the week ending October 11, foreign currency assets, a major component of reserves, fell by USD 10.542 billion to USD 602.101 billion, according to figures issued on Friday.
Foreign currency assets, expressed in dollar terms, include the effect of non-US currency appreciation or depreciation in foreign exchange reserves, such as the euro, pound, and yen.
The RBI said that gold reserves declined by USD 98 million to USD 65.658 billion this week.
The Special Drawing Rights (SDRs) fell by USD 86 million to USD 18.339 billion, according to the central bank. India’s reserve position with the IMF fell by USD 20 million to USD 4.333 billion during the reporting week, according to apex bank data.
Source:IE
