FX reserves at $251.364 bn on Nov 7
MUMBAI: Foreign exchange reserves fell to $251.364 billion as on November 7, from $252.883 billion a week earlier, RBI said in its weekly statistical supplement on Friday. Foreign currency assets, expressed in dollar terms, included the effect of appreciation or depreciation of other currencies held in its reserves such as the euro, pound sterling and yen, the central bank said.
Reserves have declined sharply in recent weeks mostly due to the central bank’s dollar selling intervention in the currency markets to shore up a falling rupee, traders said and it was the seventh consecutive weekly decline.
Foreign exchange reserves include India’s Reserve Tranche Position in the International Monetary Fund, the central’
source: Economictimes
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