India's forex reserves down $121.3 mn to $360.90 bn

Mumbai: The country's forex reserves dipped by USD 121.3 million to USD 360.905 billion for the week ended May 20 on a fall in the core currency assets, the Reserve Bank said today.

Total reserves had dipped by USD 968 million to USD 361.02 billion in the previous reporting week ended May 13.

Foreign currency assets, a major component of the forex reserves, dipped by USD 107.1 million to USD 336.94 billion for the week ended May 20, the Reserve Bank said in data released today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.

The gold reserves were unchanged at USD 20.043 billion, the apex bank said.

For the week under review, Special Drawing Rights (SDRs) decreased by USD 5.4 million to USD 1.498 billion, while the country's reserve position in the IMF also decreased by USD 8.8 million to USD 2.425 billion, the apex bank data showed.