India’s total foreign exchange reserves fell by 5.6 billion USD

¨     India’s total foreign exchange reserves fell by 5.6 billion USD.

¨     India’s total foreign exchange reserves reached at 690 billion USD for the week ending October 31.

¨     The decline in India’s total foreign exchange reserves was chiefly due to a large decline in gold reserves.

¨     Gold reserves contracted by 3.8 billion USD and stood at 101.7 billion USD.

¨     Foreign currency assets form the largest component of the reserves.

¨     Foreign currency assets declined by nearly 2 billion USD to around 564.5 billion USD during the week.

¨     This decline was partly caused by currency value changes involving the euro, pound, and yen.

¨     Special Drawing Rights saw a small decline of 19 million USD, and reached 18.64 billion USD.

¨     India’s IMF reserve position increased slightly by 164 million USD to 4.77 billion USD during the same week.