Forex reserves down $32.7 million

India’s foreign exchange reserves slipped by $32.7 million in the week ended November 16, to $293.52 billion. The reserves fell for the third week in succession. In the week ended November 9, the country’s forex reserves stood at $293.56 billion. In the reporting week, the decline in the reserves was mainly due to dip in the foreign currency assets, which were down $16.4 million to $258.69 billion. During the week, gold reserves remained unchanged at $28.189 billion. Since March-end 2012, the forex reserves have declined by $871.2 million.