India's forex reserves drop by $1.31 bn to $656.58 bn as of Nov 22

India's forex reserves fell by $1.31 billion to $656.582 billion for the week ending November 22, according to RBI data on Friday.

The Weekly Statistical Supplement released by the RBI showed that the primary contributor to this decline was the drop in Foreign Currency Assets (FCAs), which fell by by $3.043 billion to $566.791 billion.

The value of gold reserves rose by $1.828 billion, reaching $67.573 billion.


SDR holdings dipped by $79 million, while the reserve position in the IMF fell by $15 million.

For the previous week, India's foreign exchange reserves dipped by $17.7 billion to $657.89 billion as of November 15, according to data shared by the Reserve Bank of India (RBI).