India's forex reserves down $1.6 billion to $315.69 billion

FCAs declined by $1.599 billion to $288.764 billion for the week under review

India's foreign exchange reserves dropped by $1.615 billion to $315.697 billion in the week to September 12 on account of a hefty fall in non-US currency assets, the Reserve Bank said today.

In the week to September 5, the reserves had dipped by $1.327 billion to $317.313 billion.

Foreign currency assets (FCAs), a major constituent of overall reserves, declined by $1.599 billion to $288.764 billion for the week under review, the RBI data showed.

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

The gold reserves remained unchanged at $20.933 billion in the reporting week.

The special drawing rights were down $11.4 million to $4.333 billion and India's reserve position with the IMF dipped by $4.4 million to $1.666 billion during the week, the data showed.