Forex reserves in India fell in the week ended November 12, 2021
Foreign exchange or forex reserves fell by $763 million to $640.112 billion in the week ended November 12, according to weekly data released by the Reserve Bank of India (RBI).
In the previous week ended November 5, reserves fell by $1.145 billion to $640.874 billion. Earlier, reserves touched an all-time high of $642.453 billion in the week ended September 3, 2021.
In the week under review (ending November 12), the fall in forex reserves was on account of decline in foreign currency assets (FCAs), a major component of reserves.
According to the data, FCA declined by $2.094 billion to $575.487 billion in the reporting week.
In dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves rose by $ 1.461 billion to $ 40.239 billion in the reporting week.
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