Forex reserves down $57 mn to $363 bn due to dip in foreign currency assets

India's foreign exchange reserves declined by $56.8 million to $362.73 billion in the week to February 17, on account of dip in foreign currency assets (FCAs), the Reserve Bank said on Friday.

In the previous week, the reserves had fallen by $360.9 million to $362.78 billion.

A major component of the overall reserves, FCAs dropped by $59.1 million to $339.72 billion in the reporting week, RBI said.

Expressed in US dollar terms, they 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 unchanged in the week at $19.248 billion, the apex bank said.

The special drawing rights with the International Monetary Fund marginally rose by $0.9 million to $1.443 billion; India's reserve position with the Fund, too, increased by $1.4 million to $2.317 billion, RBI said.