<p>The foreign reserves kitty has declined sharply for the second consecutive week after surging to an all-time high of $319.08 billion recorded during the week ended July 29. The forex reserves had declined by $1.86 billion to $317.22 billion in the previous week under review. <br /><br />Foreign currency assets, the biggest component of the forex reserves kitty, declined by $652 million to $283.66 billion during the week ended August 12, according to RBI’s weekly statistical supplement. <br /><br />The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.<br /><br />However, the value of special drawing rights increased by $19 million to $4.61 billion and reserves with the International Monetary Fund rose by $12 million to $2.97 billion. The value of gold reserves remained unchanged at $25.35 billion.</p>
<p>The foreign reserves kitty has declined sharply for the second consecutive week after surging to an all-time high of $319.08 billion recorded during the week ended July 29. The forex reserves had declined by $1.86 billion to $317.22 billion in the previous week under review. <br /><br />Foreign currency assets, the biggest component of the forex reserves kitty, declined by $652 million to $283.66 billion during the week ended August 12, according to RBI’s weekly statistical supplement. <br /><br />The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.<br /><br />However, the value of special drawing rights increased by $19 million to $4.61 billion and reserves with the International Monetary Fund rose by $12 million to $2.97 billion. The value of gold reserves remained unchanged at $25.35 billion.</p>