Forex reserves dips by $1.68 bn to $369.6 bn in week to Sep 16 - Firstpost
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Forex reserves dips by $1.68 bn to $369.6 bn in week to Sep 16

#Foreign currency assets   #forex reserves   #Gold reserves   #IMF   #RBI  


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Mumbai: After touching a record high, the country's forex reserves declined by $1.679 billion to $369.6 billion in the week to 16 September, RBI data showed Friday.

The reserves had touched a record high of $371.279 billion after it increased by $3.513 billion in the previous week.

Hidden money. Reuters

Reuters

Foreign currency assets (FCAs), a major component of the overall reserves, decreased by $1.673 billion to $344.073 billion in the reporting week, the Reserve Bank said.

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

Gold reserves remained unchanged at $21.642 billion, the apex bank said.

The country's special drawing rights with the International Monetary Fund dipped by $2.3 million to $1.491 billion, while the reserve position with the fund was down by $3.7 million to $2.392 billion, RBI said.

First Published On : Sep 23, 2016 18:13 IST

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