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AgenciesRepresentational image India’s foreign exchange reserves fell by $6.92 billion to $695.36 billion for the week ending October 24, the Reserve Bank of India (RBI) said on Friday.For the previous week, foreign exchange reserves rose by $4.496 billion to $702.28 billion for the week ending 17 October, mainly driven by an increase in the value of gold reserves, the Reserve Bank of India (RBI) said on Friday.For the week ended October 24, foreign currency assets, a major component of the reserves, decreased by USD 3.862 billion to USD 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 USD 3.01 billion to USD 105.536 billion during the week, the RBI said.Live EventsThe Special Drawing Rights (SDRs) were down by USD 58 million to USD 18.664 billion, the apex bank said.India's reserve position with the IMF was up by USD 6 million at USD 4.608 billion in the reporting week, the apex bank data showed. The Reserve Bank of India routinely monitors developments in the foreign exchange market and undertakes interventions when necessary to preserve orderly trading conditions. Such interventions aim to moderate undue volatility in the rupee’s exchange rate and are not guided by any fixed exchange rate target or band.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onIndia forex reserves fallforeign exchange reservesReserve Bank of Indiaweekly forex updateRBI forex reserves news (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onIndia forex reserves fallforeign exchange reservesReserve Bank of Indiaweekly forex updateRBI forex reserves news(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless Prime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition123View all Stories
