Money & Banking

Forex reserves drop by $5.72 b to $314.6 b

Our Bureau Mumbai | Updated on March 12, 2018 Published on November 11, 2011

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.

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Published on November 11, 2011
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