Foreign exchange reserves dip by $1.5 bn to $366.13 bn

Mumbai: India's foreign exchange reserves declined by USD 1.506 billion to USD 366.139 billion in the week to October 14, due to fall in foreign currency assets, the Reserve Bank said on Friday.

In the previous week, the reserves had decreased by USD 4.343 billion to USD 367.646 billion.

It had touched a life-time high of USD 371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, dipped by USD 1.486 billion to USD 340.908 billion.

FCAs, expressed in US 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 steady at USD 21.406 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by USD 8 million to USD 1.468 billion, while India's reserve position with the Fund dipped by USD 12.8 million to USD 2.356 billion, RBI said.