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Forex reserves down $443.6 mn to $375.27 bn due to fall in currency assets

In the previous week, the reserves had touched a lifetime high of $375.71 billion

Press Trust of India  |  Mumbai 

Photo: Shutterstock
Photo: Shutterstock

After touching a record high, the country's reserves declined marginally by $443.6 million to $ 375.27 billion in the week to May 12, due to fall in foreign currency assets, the Reserve said.

In the previous week, the reserves had touched a life -time high of $375.71 billion.

(FCAs), a major component of the overall reserves, dipped by $429.4 million to $351.10 billion in the reporting week, the RBI said.

Expressed in terms, FCAs 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 stable at $20.438 billion after rising for the first time in past few weeks in the previous week.

The special drawing rights with the International Monetary Fund decreased by $5.5 million to $1.454 billion.

The country's reserve position with the IMF too declined by $8.7 million to $2.280 billion, the RBI said.

First Published: Sat, May 20 2017. 00:30 IST