Forex reserves decline by $286 mn to $307.92 bn

The country's foreign exchange reserves declined by $286 million to $307.92 billion following fall in foreign currency assets.

The country's foreign exchange reserves declined by $286 million to $307.92 billion following fall in foreign currency assets.

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Foreign currency assets, the biggest component of the foreign reserves moved down by $311 million to $277.37 billion for the week ended April 15, the Reserve Bank said in its weekly data released on Saturday evening.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves, the apex bank said.

The country's gold reserves remained unchanged at 22.97 billion, the apex bank data said.

Both the special drawing rights (SDRs) and reserve position in the IMF were up during the reporting week, RBI said.

The SDRs increased by $15 million to $4.605 billion while the country's reserve position in the IMF also increased by a marginal USD 10 million to $2.97 billion, the RBI data showed.