Forex reserves down $56.8 million to $362.73 billion | business-news | Hindustan Times
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Forex reserves down $56.8 million to $362.73 billion

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

business Updated: Feb 25, 2017 13:50 IST
South Korean won, Chinese yuan and Japanese yen notes are seen on US 100 dollar notes in this file photo.
South Korean won, Chinese yuan and Japanese yen notes are seen on US 100 dollar notes in this file photo.(Reuters file photo)

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

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

A major component of the overall reserves, FCAs dropped by $59.1 million to $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 $19.248 billion, the apex bank said.

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