Country's foreign exchange reserves fell by massive USD 1.680 billion to USD 350.37 billion in the week to January 1, due to fall in foreign currency assets (FCAs), as per the Reserve Bank.
In the previous week, the reserves had increased by USD 943.4 million to USD 352.05 billion.
FCAs, a major component of overall reserves, declined by USD 1.36 billion to USD 327.83 billion in the reporting period, RBI stated in a release today.
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 gold reserves had fallen by USD 303.7 million to USD 17.24 billion in the period.
India's special drawing rights with the International Monetary Fund (IMF) fell by USD 10 million to USD 4.003 billion in the week, while country's reserve position with the Fund decreased by USD 3.3 million to USD 1.29 billion, the apex bank has stated.
