The country’s forex reserves slipped from record high level to $381.156 billion in the week to June 9 due to fall in foreign currency assets. In the previous week, the reserves had increased by $2.404 billion to touch a record high of $381.167 billion. Foreign currency assets (FCAs), a major component of overall reserves, dipped by $8.3 million to $357.282 billion in the reporting week, the central bank said. 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 $20.095 billion. The special drawing rights with the International Monetary Fund dipped by $1.3 million to $1.470 billion. The country’s reserve position with the IMF, too, declined by $1.9 million to $2.307 billion.