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India’s foreign exchange reserves fell by $4.47 billion to $688 billion in the week ended November 21 on the back of a decline in the gold reserves, latest data by the Reserve Bank of India showed.
Gold reserves fell by $2.6 billion during the reported week.
Foreign currency assets also decreased by $1.6 billion to $560 billion during the reported week.
The reserves had hit a record high of $705 billion in September 2024.
The special drawing rights (SDRs) were down $84 million to $18.5 billion. India’s reserve position with the International Monetary Fund (IMF) was up by $23 million to $4.7 billion in the reporting week.
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