Forex Reserves Fall To $640.1 Billion

India’s foreign exchange reserves fell in the week ending 12 November 2021

According to weekly data from the Reserve Bank of India (RBI), foreign reserves fell $763 million to $640,112 million for the week ended November 12.

In the week leading up to November 5, reserves fell $1.15 billion to $640.874 million. Prior to that, reserves peaked at $642,453 million in the week ending September 3, 2021.

The decline in foreign exchange reserves in the reporting week (until November 12) was caused by a decrease in foreign exchange assets (FCA), which is the main component of foreign exchange reserves.

Data shows that FCA fell $2,094 million to $575,487 million during the reporting week.

Dollar-denominated foreign currency assets include the effects of rising or falling units outside the United States such as the euro, pound sterling and yen held in foreign currency reserves.

Gold reserves rose $1.461 million in the reporting week to $40.239 million.