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Forex reserves drop $1.54 bn to $365 bn

Press Trust of India  |  Mumbai 

India's foreign exchange reserves declined by USD 1.542 billion to USD 365.499 billion in the week to November 18 due to decrease in foreign currency assets, Reserve Bank said today.

In the previous week, the reserves had dipped by USD 1.190 billion to USD 367.041 billion. They had touched a life- time high of USD 371.99 billion in the week to September 30, this year.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by USD 1.495 billion to USD 341.276 billion.

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

Gold reserves remained steady at USD 20.460 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by USD 17.9 million to USD 1.444 billion, while India's reserve position with the Fund dipped by USD 28.5 million to USD 2.317 billion, RBI said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 25 2016. 18:22 IST