MUMBAI: Foreign exchange reserves fell by $4.85 billion to $532.66 billion for the week ending Sep 30, according to data released today by the Reserve Bank of India.
The foreign exchange reserves fell to their lowest level since July 2020 and also marked the ninth consecutive week of fall.
The fall in the foreign exchange reserves can be attributed to a fall in the Foreign Currency Assets (FCA), which is a major component of the overall reserves. Foreign currency assets dropped $4.41 billion to $472.81 billion for the same period. Gold reserves fell $281 million to $37.61 billion.
