Forex reserves fall by $1.88 bn to $686 bn as FCA declines; gold holdings rise: RBI

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<h2>Forex</h2> <p> reserves fall by $1.88 bn to $686 bn as FCA declines; gold holdings rise: RBI” decoding=”async” fetchpriority=”high”/></p></div> </div> </div> </section> </div></div> </div> <p>India’s foreign exchange reserves fell by $1.877 billion to $686.227 billion for the week ended November 28, the Reserve Bank of India (RBI) said on Friday.</p> <p>The decline comes after a sharper $4.472 billion drop in the previous reporting week, when overall reserves slipped to $688.104 billion, PTI reported.<span class=According to RBI data, foreign currency assets (FCAs) — the largest component of the reserves — fell by $3.569 billion to $557.031 billion.

FCAs, expressed in dollar terms, factor in the impact of movements in non-US currencies such as the euro, pound and yen.

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Gold reserves, however, recorded an increase of $1.613 billion, rising to $105.795 billion during the week.Special Drawing Rights (SDRs) rose by $63 million to $18.628 billion, while India’s reserve position with the International Monetary Fund (IMF) inched up $16 million to $4.772 billion, the RBI said.

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