At $43 billion, RBI’s net dollar purchase hits new high

India’s foreign exchange reserves fell by $5.01 billion to $721.02 billion in the week ended Oct 16, down $64.7 billion from their all-time high of $785.71 billion in the week ended Sept 4, as pressure on the rupee continued. Foreign currency assets, the largest component of reserves, declined by $5.76 billion during the latest week. The fall was partly offset by a $706 million increase in the value of gold reserves.