Forex reserves down $950 m

India’s foreign exchange reserves fell $ 950.3 million to $ 294.34 billion for the week ended November 2, according to Reserve Bank of India (RBI)data.

Foreign currency assets, a major component, were down by $ 1,005.8 million to $ 259.459 billion.  Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves.  Gold reserves increased $ 56.4 million to $ 28.189 billion.

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