Forex reserves down by $152.4 million to $421.334 billion: RBI

Mumbai: After rising for two consecutive weeks, the country's foreign exchange reserves decreased marginally by $152.4 million to $421.334 billion in the week to March 16, on account of a fall in foreign currency assets, Reserve Bank of India (RBI) said today.

In the previous week, the reserves had increased by $728.9 million to $421.487 billion.

The reserves had touched a life-time high of $421.914 billion on February 9, FY18. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating.

In the reporting week, foreign currency assets, a major component of the overall reserves, declined by $175.2 million to $396.156 billion.

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

Gold reserves increased by $13.2 million to $21.562 billion, the central bank said.

The special drawing rights with the International Monetary Fund rose by $4.1 million to $1.538 billion.

The country's reserve position with the Fund also increased by $5.5 million to $2.077 billion, RBI said.