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Forex reserves down by $1.67 billion to $369.6 billion

After touching a record high, the country's forex reserves declined by $1.679 billion to $369.6 billion in the week to September 16, RBI data showed today.

By: | Mumbai | Published: September 23, 2016 5:53 PM
Foreign currency assets (FCAs), a major component of the overall reserves, decreased by .673 billion to 4.073 billion in the reporting week, the Reserve Bank said. (Reuters) Foreign currency assets (FCAs), a major component of the overall reserves, decreased by .673 billion to 4.073 billion in the reporting week, the Reserve Bank said. (Reuters)

After touching a record high, the country’s forex reserves declined by $1.679 billion to $369.6 billion in the week to September 16, RBI data showed today.

The reserves had touched a record high of $371.279 billion after it increased by $3.513 billion in the previous week.

Foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.673 billion to $344.073 billion in the reporting week, the Reserve Bank said.

FCAs, expressed in 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 unchanged at USD 21.642 billion, the apex bank said.

The country’s special drawing rights with the International Monetary Fund dipped by $2.3 million to $1.491 billion, while the reserve position with the fund was down by $3.7 million to $2.392 billion, RBI said.

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