Forex kitty drops $10.75 billion to $690.43 billion

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For the week ended October 11, overseas currency assets, a large constituent of the reserves, decreased by USD 10.542 cardinal to USD 602.101 billion, the information released connected Friday showed. (File Photo)

Declining for the 2nd consecutive week, India’s forex reserves dropped USD 10.746 cardinal to USD 690.43 cardinal for the week ended October 11 successful 1 of the largest decreases successful the kitty successful caller times, the RBI said connected Friday.

In the erstwhile reporting week, the reserves had dropped by USD 3.709 cardinal to USD 701.176 billion. At the extremity of September, the reserves had deed an all-time precocious of USD 704.885 billion.

Expressed successful dollar terms, the overseas currency assets see the effect of appreciation oregon depreciation of non-US units similar the euro, lb and yen held successful the overseas speech reserves.

Gold reserves decreased by USD 98 cardinal to USD 65.658 cardinal during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 86 cardinal to USD 18.339 billion, the apex slope said. India’s reserve presumption with the IMF was down by USD 20 cardinal to USD 4.333 cardinal successful the reporting week, the apex slope information showed.

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