INSUBCONTINENT EXCLUSIVE:
million to $393.580 billion in the week to November 16, mainly due to a spurt in foreign currency assets, according to RBI data
In the previous week, reserves had declined by $121.2 million to $393.01 billion
In the reporting week, foreign currency assets, a major component of overall reserves, increased by $506 million to $368.541 billion, as per
the RBI data.Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such
as the euro, the pound and the yen held in the reserves.Forex reserves had touched a record high of $426.028 billion in the week to April
Since then, the forex kitty has been on a slide and is now down by over $31 billion.Gold reserves rose by $73 million to $20.961 billion,
the data showed.The special drawing rights with the International Monetary Fund (IMF) declined by $5.7 million to $1.453 billion.The
