Forex reserves dip to $656.5 billion

India’s forex reserves dropped USD 1.31 billion to USD 656.582 billion for the week ended November 22, the Reserve Bank of India said. The kitty had dropped a record USD 17.761 billion to USD 657.892 billion in the previous reporting...

PTI

Mumbai, Updated At : 03:42 AM Nov 30, 2024 IST

India’s forex reserves dropped USD 1.31 billion to USD 656.582 billion for the week ended November 22, the Reserve Bank of India said.

The kitty had dropped a record USD 17.761 billion to USD 657.892 billion in the previous reporting week ending November 15. The reserves, which had hit an all-time high of USD 704.885 billion in September-end, have been declining for multiple weeks, at a time when the rupee has also been under pressure.

Gold reserves increased USD 1.828 billion to USD 67.573 billion during the week.