TRN Business
FOREX reserves drop by $5 billion to $721 billion
The country's foreign exchange reserves fell by five billion US dollars to 721 billion US dollars as of the week ending October 16. Data from the Reserve Bank of India indicated that foreign currency assets decreased by 5.7 billion US dollars, while gold reserves increased by 706 million US dollars. Additionally, Special Drawing Rights rose by 30 million US dollars, and the reserve position with the International Monetary Fund grew by 11 million US dollars. This decline in foreign currency assets highlights fluctuations within the country's overall reserve composition.
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