Country's forex reserves drop USD 6.9 bn to USD 695.35 bn

Mumbai, Oct 31 (PTI) India's forex reserves dropped by USD 6.925 billion to USD 695.355 billion during the week ended October 24, the RBI said on Friday.

In the previous reporting week, the overall reserves had increased by USD 4.496 billion to USD 702.28 billion.

For the week ended October 24, foreign currency assets, a major component of the reserves, decreased by USD 3.862 billion to USD 566.548 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Value of gold reserves declined USD 3.01 billion to USD 105.536 billion during the week, the RBI said.

The Special Drawing Rights (SDRs) were down by USD 58 million to USD 18.664 billion, the apex bank said.

India's reserve position with the IMF was up by USD 6 million at USD 4.608 billion in the reporting week, the apex bank data showed. PTI AA TRB