Forex reserves down by $1.03 billion to $353.33 billion

Foreign currency assets were down 982.1 million to $328.93 billion for the week ended July 17

Country's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said today.

Total reserves had slipped by a marginal $156.9 million to $354.360 billion in the previous reporting week.

Foreign currency assets (FCAs), the biggest part of the reserves, were down 982.1 million to $328.93 billion for the week ended July 17, the RBI said in its weekly data.

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

The country's gold reserves remained unchanged at $19.074 billion.

The special drawing rights with the International Monetary Fund were down by $39.6 million to $4.018 billion in the week under review, while India's reserve position with the Fund also decreased by $12.8 million to $1.303 billion, the apex bank said.