FE reserves down at $279.9 b

The foreign currency assets (FCA) declined to US$263.498 billion, falling by US$855-million, from US$264.353 billion the week before, Reserve Bank said in its weekly report.

Foreign currency assets expressed in US dollar include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said.

During the week, the gold reserves stood unchanged at US$9.828 billion while Special Drawing Rights (SDRs) dropped marginally to US$5.220 billion from US$5.224 billion the week before, RBI said.

The country’s reserves position in the International Monetary Fund stood at US$1.364 billion during the period, the RBI said.