Forex reserves down by $231 million to $363.23 billion

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Mumbai | June 17, 2016 7:56 PM

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

FCAs decreased by $243 million to $338.979 billion in the reporting week, RBI data showed. (Reuters)FCAs decreased by $243 million to $338.979 billion in the reporting week, RBI data showed. (Reuters)

After touching a record high last week, the country’s foreign exchange reserves declined by $231 million to $363.233 billion in the week ended June 10, Reserve Bank said today.

In the previous week, the reserves had increased by $3.27 billion to hit an all-time high of $363.46 billion.

The marginal decline in reserves was on account of fall in foreign currency assets (FCAs), a major component of the overall reserves.

FCAs decreased by $243 million to $338.979 billion in the reporting week, RBI data showed.

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

Gold reserves remained unchanged at $20.33 billion.

The country’s special drawing rights with the International Monetary Fund increased by $9.8 million to $1.504 billion and the reserve position grew by $2.2 million to $2.421 billion, the central bank said.

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