Forex reserves fall by $935.2 million to $359.671 billion

India's foreign exchange reserves declined by $ 935.2 million to $ 359.671 billion in the week to December 23 on account of fall in foreign currency assets, the Reserve Bank said today.

FCAs, expressed in US dollar terms, include the effects of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves. Photo: Pixabay

India's foreign exchange reserves declined by $ 935.2 million to $ 359.671 billion in the week to December 23 on account of fall in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had fallen by $ 2.380 billion to $360.606 billion.

They had touched a life-time high of $371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $ 933.2 million to $ 335.970 billion in the reporting week.

FCAs, expressed in US dollar terms, include the effects of appreciation/depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

Gold reserves remained steady at $19.982 billion in the reporting week, the RBI said.

The special drawing rights with the International Monetary Fund decreased by $ 0.9 million to $ 1.427 billion, while India's reserve position with the Fund too declined by $ 1.1 million to $ 2.290 billion, the data showed.

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