India's forex reserves down $7 billion to $695.4 billion

MUMBAI: India's foreign exchange reserve dipped by nearly $7 billion to $695.4 billion during the week ended Oct 24, Reserve Bank of India data showed. Of the total, foreign currency assets were worth $566.5 billion (down $3.9 billion on the week), gold was worth $105.5 billion (down $3 billion), SDRs were worth $18.7 billion (down nearly $58 million) and reserve position with IMF was $4.6 billion (down $6 million), the central bank's data showed.

In the previous reporting week that ended October 17, the country's forex reserves had scaled a new all-time high figure of $702.3 billion. In recent weeks, after gold prices rallied to new all-time peaks on several occasions, the share of the yellow metal in India's forex reserves had for the first time gone above the 15% of the overall figure.