Mumbai: India’s foreign exchange reserves declined marginally by USD 97.9 million to USD 322.037 billion in the week to January 23, RBI said today. In the previous reporting week, the reserves had jumped by a whopping USD 2.66 billion to USD 322.135 billion, a new record high.
Foreign currency assets (FCAs), a major constituent of overall reserves, fell by USD 19.7 million to USD 297.510 billion in the reporting week, Reserve Bank data showed. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in reserves.
The country’s gold reserves remained unchanged at USD 19.377 billion. Special drawing rights decreased by USD 61.4 million to USD 4.047 billion, while India’s reserve position with the IMF dipped by USD 16.8 million to USD 1.101 billion during the week, the data showed.