Forex reserves dip by $2.59 bn to $399.66 bn: RBI data

The country's foreign exchange reserves fell by $2.590 billion to $399.656 billion in the week ended September 29 due to decline in foreign currency assets, RBI data showed.

In the previous week, the reserves decreased by $262.3 million to $402.246 billion, after touching a lifetime high of $402.509 billion in the week to September 15.

The foreign currency assets, a major component of the overall reserves, decreased by $2.565 billion to $375.186 billion, the data showed.

Expressed in US dollar terms, FCAs include the effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.
 
Gold reserves remained unchanged at $20.691 billion.

The special drawing rights with the International Monetary Fund (IMF) declined by $10 million to $1.502 billion.

The country's reserve position with the IMF declined by $15.2 million to $2.276 billion, the apex bank said.