Forex reserves down by $ 353mn to $ 541.66bn: RBI data

After touching a life-time high in the previous week, the country's foreign exchange reserves declined by USD 353 million to USD 541.660 billion in the week ended September 11, according to the Reserve Bank data.

In the previous week ended September 4, the reserves had increased by USD 582 million to a record high of USD 542.013 billion.

During the reporting week, the fall in reserves was due to a decline in foreign currency assets (FCAs), a major component of the overall reserves. FCAs decreased by USD 841 million to USD 497.521 billion in the reporting week, the data showed.

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

The gold reserves rose by USD 499 million in the reporting week to USD 38.02 billion.

The special drawing rights with the International Monetary Fund (IMF) marginally declined by USD 1 million to USD 1.482 billion during the week.

The country's reserve position with the IMF declined by USD 11 million to USD 4.637 billion during the reporting week, the data showed.