Forex kitty dips $161.9 mn to $386.377 bn

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Mumbai | Published: July 14, 2017 6:21:58 PM

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.

forex, forex reserve in india, India Forex reserve, india's Foreign currency assets, International Monetary Fund, RBIIn 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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