Forex reserves dip by $11.5 mn to $381.15 bn

Mumbai: The country's forex reserves slipped from record high level to USD 381.156 billion in the week to June 9 due to fall in foreign currency assets.

In the previous week, the reserves had increased by USD 2.404 billion to touch a record high of USD 381.167 billion.

Foreign currency assets (FCAs), a major component of overall reserves, dipped by USD 8.3 million to USD 357.282 billion in the reporting week, the central bank said.

Expressed in US dollar terms, FCAs 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 at USD 20.095 billion.

The special drawing rights with the International Monetary Fund dipped by USD 1.3 million to USD 1.470 billion.

The country's reserve position with the IMF, too, declined by USD 1.9 million to USD 2.307 billion.