look news india
New Delhi, 29 November (HS). There is shocking news on the economic front. Foreign exchange reserves have declined for the eighth consecutive week. The country’s foreign exchange reserves declined by $1.31 billion to $656.58 billion in the week ending November 22. Earlier, in the week ending November 15, the foreign exchange reserves stood at $ 657.89 billion, a record decline of $ 17.76 billion.
The Reserve Bank of India (RBI) said in the data released on Friday that the country’s foreign exchange reserves declined by $ 1.31 billion to $ 656.58 billion in the week ending November 22. During this period, foreign currency assets, considered an important component of foreign exchange reserves, declined by $ 3.04 billion to $ 566.79 billion. However, this week the reserve value of gold reserves increased by $ 1.83 billion to reach $ 67.57 billion.
According to the data, in the week ending November 22, Special Drawing Rights (SDR) declined by $ 79 million to $ 17.98 billion. According to the data released by RBI, India’s reserves with the International Monetary Fund (IMF) also decreased by $ 15 million to $ 4.23 billion.
It is noteworthy that at the end of September, the country’s foreign exchange reserves had reached an all-time high of $ 704.88 billion.