Forex reserves decline by USD 4.6 bn to USD 282.7 bn

Foreign currency assets, which is a major component of the country's foreign exchange reserves, tanked by USD 4.49 billion to USD 256.59 billion, against the previous week's USD 261.07 billion, the Reserve Bank of India (RBI) said in its weekly data released today.

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

The country's gold remained unchanged at USD 19.27 billion while India's special drawing rights (SDRs) and reserve position in the International Monetary Fund (IMF) also slid marginally, the data showed.

India's SDRs were down by USD 56 million to USD 4.985 billion while its reserve position in the IMF went down by USD 21 million to USD 1.937 billion, the RBI said.

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