India's foreign exchange reserves fell by $2.691 billion to $717.056 billion in the week ended October 30, extending a decline from their September peak. Experts attribute the drawdown partly to the deployment of FCNR(B) funds and RBI's dollar sales to support the rupee, while foreign currency and gold assets declined.
aninews.in reported on November 13 that India’s foreign exchange reserves had reached $719.55 billion, with gold holdings rising by $2.21 billion. The Hindu had reported an earlier fall of $2.69 billion, to $717.06 billion, for the week ended October 30. The Hindu cited Reserve Bank of India explanations including FCNR(B) fund deployments and currency defense, while aninews.in’s headline does not state the period covered by its latest figures.
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