ENA Economy 2024-11-04 14:45:45 <p><span style="font-size:14px"><strong>New Delhi, Nov 4 (KNN)</strong> India's foreign exchange reserves witnessed a significant decline of USD3.463 billion, settling at USD 684.805 billion for the week ending October 25, according to the latest data released by the Reserve Bank of India (RBI).</span></p> <p><span style="font-size:14px">This movement marks a notable shift in the country's foreign exchange holdings.</span></p> <p><span style="font-size:14px">The decrease was primarily driven by a substantial reduction in foreign currency assets, which constitute the largest component of the reserves. </span></p> <p><span style="font-size:14px">These assets fell by USD 4.484 billion, reaching USD 593.751 billion during the reporting period. </span></p> <p><span style="font-size:14px">However, the decline was partially offset by a positive movement in gold reserves, which saw an increase of USD 1.082 billion to reach USD 68.527 billion.</span></p> <p><span style="font-size:14px">Other components of the reserves also experienced downward movements. </span></p> <p><span style="font-size:14px">The Special Drawing Rights (SDRs) decreased by USD 52 million to USD 18.219 billion, while India's reserve position with the International Monetary Fund (IMF) saw a marginal reduction of USD 9 million, settling at USD 4.307 billion for the week under review.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39797 https://knnindia.co.in/news/newsdetails/economy/foreign-exchange-reserves-drop-by-usd-34-bn-rbi 2024-11-04 14:45:45 knnindia.co.in