Forex reserves down by $2.713 billion

'Forex reserves down by $2.713 billion'

The country's foreign exchange reserves have declined last week. For the week ended November 26, it declined by $2.713 billion to $637.687 billion. The Reserve Bank of India (RBI) has given this information in the data released late night.

According to the RBI, in the previous week ended November 19, foreign exchange reserves had increased by $ 289 million to $ 640.401 billion. At the same time, in the week ended September 3, the currency reserves had reached an all-time high of $ 642.453 billion.

According to the weekly data of the Reserve Bank, the fall in foreign exchange reserves in the reporting week ended November 26 was due to a fall in foreign currency assets. It forms a significant part of the total currency reserves. According to the data, FCA also declined by $ 1.048 billion to $ 574.664 billion during the week.

The value of gold reserves declined by $1.566 billion to $38.825 billion during this period. Special drawing rights with the International Monetary Fund (IMF) declined by $74 million to $19.036 billion in the week under review. Apart from this, the country's currency reserves with the IMF decreased by $ 25 million to $ 5.162 billion.

It is noteworthy that foreign currency assets expressed in dollars also include movements of non-US currency such as the euro, pound and yen held in foreign exchange reserves.