Forex stocks fall $6.9 billion to $695.35 billion

Mumbai: India’s forex reserves dropped by $6.925 billion to $695.355 billion during the week ended October 24, the RBI said on Friday.

For the week ended October 24, foreign currency assets, a major component of the reserves, decreased by $3.862 billion to $566.548 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of gold reserves declined $3.01 billion to $105.536 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by $58 million to $18.664 billion, the apex bank said.

India’s reserve position with the IMF was up by $6 million at $4.608 billion in the reporting week, the apex bank data showed.