Foreign exchange reserves dip to 5-month low

MUMBAI: The country’s foreign exchange reserves stood at $584.7 billion, the lowest in more than five months, after a decline of $2.2 billion in the week ended October 6. The drop was primarily due to a dip in the value of gold reserves, which decreased by $1.4 billion to $42.3 billion, RBI data showed. In the previous week, India’s foreign exchange reserves decreased by $3.8 billion to $586.9 billion. On Friday, the rupee closed near its all-time low at 83.26 against the dollar.