India’s foreign exchange reserves decline by USD 2.8 billion
India's foreign currency assets (FCA), the biggest component of the forex reserves, declined by USD 2.653 billion to USD 545.855 billion.
India’s foreign exchange reserves rose to $531.081 billion for the week ended October 28, a jump of $6.561 billion over the previous week.
According to a weekly supplement issued by the Reserve Bank of India (RBI), the overall reserves had dropped by $3.847 billion to $524.52 billion in the previous week.
In October 2021, the country’s foreign exchange reserves had touched $645 billion. However, since then, the reserves have been falling.
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The foreign currency assets (FCA), a major component of the overall reserves, rose by $5.772 billion to $470.847 billion during the week ending October 28.
The country’s reserve position with the IMF also went up by $48 million to $4.847 billion in this period.
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