Foreign exchange reserves of India fell by $1.087 billion

New Delhi: The  foreign exchange reserves of India  fell by $1.087 billion. The weekly statistical supplement data released by Reserve Bank of India (RBI) revealed this. As per the data, the forex reserves of the country dropped by $1.087 billion to $529.994 billion for the week ended November 4.

The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). FCA is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves.

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Foreign currency assets (FCA),  decreased by $120 million to $470.727 billion. The gold reserves dropped by $705 million to $37.057 billion. The Special Drawing Rights (SDRs) were down by $235 million to $17.39 billion. The country’s reserve position with the International Monetary Fund (IMF) also dipped by $27 million to $4.82 billion.