Forex reserves down $1.19 bn to $367 bn

Foreign currency assets, a major component of the overall reserves, dipped by $1.155 billion to $342.772 billion

India's foreign exchange reserves declined by $1.190 billion to $367.041 billion in the week to November 11 on account of fall in foreign currency assets, Reserve Bank said on Friday.

In the previous week, the reserves had increased by $1.074 billion to $368.231 billion. They had touched a life- time high of $371.99 billion in the week to September 30, this year.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.155 billion to $342.772 billion.

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

 

Gold reserves remained steady at $20.460 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by $13.4 million to $1.462 billion, while India's reserve position with the Fund dipped by $21.5 million to $2.346 billion, the apex bank said.