Forex reserves down $237.5M to $355.2B

Foreign exchange reserves dipped marginally by USD 237.5 million to USD 355.221 billion in the week to June 26 on account of slight decline in a key component, according to the weekly RBI data.

In the previous reporting week, the reserves had touched a life-time high of USD 355.46 billion.

Foreign currency assets (FCAs), a major component of overall reserves, decreased by USD 216.6 million to USD 330.500 billion, the data showed.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The country's gold reserves remained unchanged at USD 19.34 billion.

The special drawing rights with the International Monetary Fund were down by USD 15.8 million to USD 4.063 billion in the week under review, while India's reserve position with the financial institution declined by USD 5.1 million to USD 1.317 billion, the apex bank said.

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