India's forex reserves dip $462 million to $590.32 billion
foreign exchange reserves dipped by $462 million to $590.32 billion for the week ending November 10, the latest data by the Reserve Bank of India (RBI) showed on Friday.
Previously, forex reserves witnessed a surge of $4.67 billion to $590.78 billion for the week ending on November 3.
According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) increased by $108 million to $522 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves decreased by $608 million to $45.52 billion, while SDRs were up by $36 million to $18.01 billion.
Reserve position in the IMF was up by $3 million to $4.79 billion.
It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.
