Forex reserves in India fell in the week ending November 12, 2021Foreign exchange or forex reserves fell by $763 million to $640.112 billion in the week ending November 12, according to weekly information launched by the Reserve Bank of India (RBI).
In the preceding week ending November 5, the reserves had fallen by $1.145 billion to $640.874 billion.
Prior to that, the reserves had touched a life time high of $642.453 billion in the week ending September 3, 2021.
In the reporting week (ending November 12), the decrease in the forex reserves was on account of a dip in foreign currency assets (FCA), a major element of the reserve.FCA declined by $2.094 billion to $575.487 billion in the reporting week, according to the data.In dollar terms, the foreign currency possessions include the result of gratitude or devaluation of non-US systems like the euro, pound and yen kept in the foreign exchange reserves.Gold reserves were up by $1.461 billion to $40.239 billion in the reporting week.