New Delhi, December 5 (Daily Kiran) – India’s foreign exchange reserves have declined for the second consecutive week. During the week ending November 28, the country’s forex reserves fell by $1.88 billion to reach $686.23 billion, according to data released by the Reserve Bank of India (RBI) on Friday.
In the previous week, the total foreign exchange reserves had decreased by $4.47 billion to $688.10 billion. The main component of the forex reserves, foreign currency assets, dropped by $3.57 billion to $557.03 billion in the week ending November 28.
Meanwhile, the value of gold reserves rose by $1.61 billion to $105.79 billion during the same period. Additionally, special drawing rights (SDRs) increased by $63 million to $18.63 billion.
India’s reserve position with the International Monetary Fund (IMF) also saw a rise of $16 million, reaching $4.77 billion.
— (Daily Kiran) / Prajesh Shankar
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