Correct Answer : $688.26
India’s foreign exchange reserves decreased by $2.163 billion, bringing the total to $688.267 billion for the week ending October 18, as reported by the Reserve Bank of India. This decline follows a significant drop of $10.746 billion in the previous week, marking one of the largest reductions in reserves in recent times.
Overview
Current Status : As of October 18, India’s foreign exchange reserves fell by
$2.163 billion, totaling
$688.267 billion, according to the Reserve Bank of India (RBI).
Recent Trends : * The previous week saw a significant drop of
$10.746 billion, bringing reserves down to
$690.43 billion.* Prior to that, reserves had decreased by
$3.709 billion to $701.176 billion.* Reserves reached an all-time high of
$704.885 billion at the end of September.
Components of Reserves :
* Foreign Currency Assets: A key component of forex reserves decreased by $3.865 billion to $598.236 billion.
* These assets reflect the value of currencies held, affected by the appreciation or depreciation of non-US currencies such as the euro, pound, and yen.
* Gold Reserves: Increased by $1.786 million, now valued at $67.444 billion.
Other Indicators :
* Special Drawing Rights (SDRs): Decreased by $68 million to $18.271 billion.
* Reserve Position with IMF: Dropped by $16 million to $4.316 billion.
