Comments
India's foreign exchange reserves fell sharply by $5.725 billion in the week ended November 4.
In the previous week ended October 28, the reserves had gone up by $858 million.
In the latest reporting week, the reserves came down mainly on account of the foreign currency assets sliding by $3.868 billion and the gold reserves going down by $1.771 billion.
The RBI doesn't provide a reason for the changes in foreign currency assets, but says that the assets expressed in dollar terms capture fluctuations in the value of non-US currencies, such as the euro, sterling and yen, held in reserves.
As at November 4, India's forex reserves stood at $314.665 billion. Since December-end 2010, the reserves have gone up by $17.331 billion.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.