Forex reserves decline by $908 million to $640.1 billion, shows data

FCA declined by USD 853 million to USD 577.098 billion in the reporting week, the data showed

The country's foreign exchange reserves declined by USD 908 million to USD 640.1 billion in the week ended October 22, RBI data showed.

In the previous week ended October 15, the reserves had increased by USD 1.492 billion to USD 641.008 billion. The reserves had touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.

In the reporting week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), a major component of the overall reserves, and in the gold reserves, Reserve Bank of India's (RBI) weekly data released