Forex reserves down by USD 156.9 mn to USD 354.360 bn

The country's foreign exchange reserves declined marginally by USD 156.9 million to USD 354.360 billion in the week to July 10, due to fall in foreign currency assets, according to the RBI weekly data.
In the previous reporting week, the reserves had dipped by USD 704 million to USD 354.517 billion. It had touched a lifetime high of USD 355.46 billion in the fortnight ended June 19.
Foreign currency assets (FCAs), a major component of overall reserves, dipped by USD 177.4 million to USD 329.913 billion in the week, the data showed.
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 USD 19.074 billion.
The special drawing rights with the International Monetary Fund were up by USD 15.5 million to USD 4.058 billion in the week under review, while India's reserve position with the Fund increased by USD 5 million to USD 1.315 billion, the apex bank said.