1. Forex kitty dips $161.9 mn to $386.377 bn

Forex kitty dips $161.9 mn to $386.377 bn

The country's forex reserves declined marginally by $161.9 million to $386.377 billion in the week to July 7 due to a fall in foreign currency assets, RBI data showed.

By: | Mumbai | Published: July 14, 2017 6:21 PM
forex, forex reserve in india, India Forex reserve, india's Foreign currency assets, International Monetary Fund, RBI In the previous week, the reserves had touched a life- time high of 6.539 billion after rising by .007 billion. (Reuters)

The country’s forex reserves declined marginally by $161.9 million to $386.377 billion in the week to July 7 due to a fall in foreign currency assets, RBI data showed. In the previous week, the reserves had touched a life- time high of $386.539 billion after rising by $4.007 billion. Foreign currency assets (FCAs), a major component of overall reserves, declined by $157 million to $362.231 billion in the reporting week, according to the RBI data. Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves. Gold reserves remained unchanged at $20.348 billion. The special drawing rights with the International Monetary Fund (IMF) were down by $1.9 million to $1.477 billion. The country’s reserve position with the IMF too dipped by $3 million to $2.319 billion.

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