India’s Forex Reserves Dip $4.4 Billion to $688.1 Billion

India’s foreign exchange reserves edged down by 4.4 billion US dollars (USD) to over 688.1 billion USD for the week ending on 21st of November. Gold reserves dipped by 2.6 billion USD to 104.1 billion USD. Foreign currency assets, which form the largest component of the reserves, decreased by 1.6 billion USD to over 560.6 billion USD during the week, influenced by fluctuations in currencies such as the euro, pound, and yen. Special Drawing Rights dipped by 84 million USD to 18.56 billion USD. Central Bank’s position in the International Monetary Fund also dipped by 23 million US dollars to 4.75 billion US dollars.