Forex reserves down $56.8 million to $362.73 billion

Mumbai: India's foreign exchange reserves declined by USD 56.8 million to USD 362.73 billion in the week to February 17, on account of dip in foreign currency assets (FCAs), the Reserve Bank said on Friday.

In the previous week, the reserves had fallen by USD 360.9 million to USD 362.78 billion.

A major component of the overall reserves, FCAs dropped by USD 59.1 million to USD 339.72 billion in the reporting week, RBI said.

Expressed in US dollar terms, they 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 in the week at USD 19.248 billion, the apex bank said.

The special drawing rights with the International Monetary Fund marginally rose by USD 0.9 million to USD 1.443 billion; India's reserve position with the Fund, too, increased by USD 1.4 million to USD 2.317 billion, RBI said.