Forex reserves dip to $656.5 billion – The Tribune-OxBig News Network

India’s forex reserves dropped USD 1.31 billion to USD 656.582 billion for the week ended November 22, the Reserve Bank of India said.

The kitty had dropped a record USD 17.761 billion to USD 657.892 billion in the previous reporting week ending November 15. The reserves, which had hit an all-time high of USD 704.885 billion in September-end, have been declining for multiple weeks, at a time when the rupee has also been under pressure.

Gold reserves increased USD 1.828 billion to USD 67.573 billion during the week.