Foreign exchange reserves fall $1.98 billion

Foreign currency assets fell by $1.93 bn to $328.04 bn

The Reserve Bank of India’s foreign exchange reserves fell $1.98 billion for the week ended October 23 to $351.55 billion, show data released on Friday.

Foreign currency assets, a key component of foreign exchange reserves, fell $1.93 billion to $328.04 billion. During the week gold reserves stood unchanged at $18.15 billion.

For the week under review, the special drawing rights  fell $36.2 million to $4.05 billion, while India’s reserve position with the International Monetary Fund stood at $1.31 billion recording a fall of $11.7 million.