India’s foreign exchange reserves dipped by another $6.477 billion in the week to November 8 to $675.653 billion as foreign institutional investors continued offloading their investment from local equities.
This was the sixth straight weekly fall in reserves after reaching the all time high of $704.885 seen on September 27.
Reserves were depleted by $29.233 billion in the last one-and-a-half month.
Foreign currency assets, the major component of reserves, fell by $4.467 billion in the week ending November 8 to $585.383 billion. Reserves held in gold was poorer by $1.936 billion to $67.814 billion.
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