The forex reserves had dropped by $2.675 billion to $682.13 billion in the previous reporting week.
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India’s forex reserves dropped by $6.477 billion to $675.653 billion for the week ended November 8, the RBI said on Friday.
The forex reserves had dropped by $2.675 billion to $682.13 billion in the previous reporting week.
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The reserves are down $29.2 billion from the record-high of $704.89 billion hit in late September.
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Changes in foreign currency assets are caused by the central bank’s intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves.
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.
In September (as of Sept 20), the foreign exchange reserves surged $2.838 billion to reach a new high of $692.3 billion.
RBI also said the gold reserves decreased by $1.936 billion to $67.814 billion during the week ending November 8.
The Special Drawing Rights (SDRs) were down by $60 million to $18.159 billion, RBI further said.
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